You are reading a single comment by @Howard and its replies.
Click here to read the full conversation.
-
not essential - as long as the ‘value’ in the property exceeds the ltv requirement for the product he’s after he can increase his borrowing.
Howard-
Well he might have a problem increasing his mortgage or getting a further advance, if say, he has a house somewhere like county Durham, where the house might be worth significantly less than he paid for it 12 years ago.
If I were him I'd speak to a broker to make sure he is approaching the right lender which will give him the minimum of hassle.
princeperch
Assuming the property values up and he meets the LTV requirements for the further advance/increased mortgage.