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can i use my house as callateral to buy another house

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  • believe
    replied
    Re: can i use my house as callateral to buy another house

    I'm not sure if I fully understand what you're needing here, but one approach could be to take out a buy-to-let mortgage on the house you fully own to raise a deposit to put down on (or even pay outright for) a new house...

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  • dacker
    started a topic can i use my house as callateral to buy another house

    can i use my house as callateral to buy another house

    Hi
    I own a terraced house outright, its worth approx £85k and i currently rent it out to tenants for £450 per month. I also have about £50k equity in the house i live in.

    I am unemployed at the moment, but i would like to buy another house so
    could i use my house as collateral to buy another house?

    many thanks
    dacker
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