Home Equity
Home equity is the difference between the value of the property and the outstanding mortgage balance. For example, if the property is valued at £200,000 and the outstanding mortgage balance is £110,000 then the equity is the difference, in this case £90,000. The equity in the property is, if you like, your money i.e. you own the equity. There are a number of ways to release the equity in the property. One is to re-mortgage the property for a higher amount.
Using our example above if that person wanted to raise £30,000 cash they maybe able to re-mortgage the property for £140,000. Paying off the £110,000 outstanding mortgage and then they are left with the remaining £30,000. Of course the monthly repayments may increase.
We believe
that regulated service is the best service!
We believe the best assistance comes from a regulated mortgage broker!
Your home may be repossessed if you do not keep up repayments on your mortgage.
1st Direction Mortgages (UK) provides a Mortgage Introducer Service and is a Trading Style of Hello Finance Ltd.
Hello Finance Ltd is an 'introducer' of clients to regulated Independent Mortgage Advice companies and may receive a introductory fee from the mortgage broker for such a service. The content of this website in 'information' on the services that are offered by our partner advice companies. The content of this website must not be taken or used as 'advice' on the type of mortgage that is most suited to your needs. Hello Finance Ltd hold no responsibility for any advice given by our partner companies.
Please read our Terms Of Business for further information.
Registered Office:
Hello Finance Ltd 7 Fidlas Road Llanishen Cardiff CF14 0LW
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