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This is what has kept the British economy going for years. Go ahead and splurge on a round the world trip in five star hotels, a classic car (or four) or on your kids uni fees. It's your patriotic duty...
[Not intended to be a pot shot at you, rather at the system that rewards house price inflation and seems incapable of paying people decent wages for honest hard work]
Zerostar
Howard
Question - currently owe about £100k on a mortgage on a £500k property that was bought for £400k.
I'd like to take £200,000 out of that property and do something with it, not related to that property.
Assuming we earn enough money to cover a £300k mortgage (we d0), how straightforward would it be to extract the equity? Just a case of borrowing more? Would there be tax implications?