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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
Howard
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.