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Second home mortgage for holiday home

1 reply

Nina20 · 04/08/2013 13:38

Hi there,

I want to buy a holiday home in Wales and am wondering what are the best ways to raise the finance. To complicate things, ideally I woud like to buy the house at auction.

I have a fixed rate mortgage on my current home, which I will be able to pay off in four years time (when the fixed rate deal ends).

Can I take out a second mortgage? If so, can I go with any lender or does it have to be with my current lender? Are second mortgages charged at higher rates of interest?

Any wise words would be appreciated!

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K8Middleton · 04/08/2013 23:32

Try London and county brokers

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