Are there any lenders that look at your overall equity on several properties as the LTV for your main home?

Q: I currently have a large mortgage of £320,000 on my main home ( value £400,000 ). I have a second property in the UK with no mortgage, which i bought with my parents and is held in trust for me ( value £120,000 ). I have 2 properties in bulgaria with no

A:

I’m afraid the answer to your question is no. Unfortunately mortgage lenders will not take into account the equity that you hold in any other properties when looking at the loan-to-value for your main residence. However it may be possible for you to look at remortgaging your other properties to reduce the loan-to-value against your main residence. As your Bulgarian properties are relatively low in value and may be costly to remortgage then I would suggest that we leave these out of the picture, and I would also suggest leaving your Florida property as it is for similar reasons. We could explore remortgaging the property held in trust for you if the property is being rented out. If you would like to discuss the options for remortgaging your other properties, or for finding a competitive remortgage for your main residence please let me know. You can contact me by calling me on my direct telephone number, 020 75194909 or by emailing me at caroline.burke@largemortgageloans.com

These questions are for information purposes only and do not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

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