Hi there,
I was just hoping you could give me some information on getting a mortgage on our current home which is finance free. Basically what we want to do is rent out our current property and release equity on it to buy a second property. The rent will cover the mortgage. Our current house is worth 315000, how much equity would it be possible to release? Also regarding a deposit, would our house be the deposit or would we need a cash deposit?
Any advice you could give would be great.
Read more: Mortgage on equity of current home?
