Hi, my house cost me £35k about ten years ago, and has just been valued at £100k. I have about £25k to pay on the mortgage. I would like to move house in the near future, and I would like to buy a house for around £150k. My annual income is £15k - can I use the £75k equity in my current house as a bargaining tool to get a bigger mortgage? (I would have thought that there was little risk to the lender if they lent me £75k when the house is worth £150k, and they will get £75k profit if I get hit by a bus.)
- posted
19 years ago