Remortgaging and further lending

If you want to re-mortgage there are certain things you need to be aware of.

It is important the amount you borrow is at a sensible level and there is enough equity (the difference between the amount you have borrowed and the amount the property is worth) left in the property to protect Home Group's interests if you fall into financial difficulties.

 

 

Additional lending could be approved for the purposes of:

 

  • Paying off rent arrears / service charge arrears;
  • Buying out a partner share (joint owner to sole owner);
  • Essential repairs (such as a broken boiler / roof repairs).

We would not unreasonably withhold consent for home improvements, however you wouldn't be allowed to borrow money against your house to fund the purchase of a new car / holiday or to clear other debts. Additional borrowing would only be permitted if the total amount borrowed does not exceed the market value of the leaseholder's share in the property.

Before entering into any further lending, please ensure that you, your lender, or your solicitors, make contact with us by writing to:

Home Group

 

2 Gosforth Park Way

 

Gosforth Business Park

 

Newcastle Upon Tyne

 

NE12 8ET

 

 

Or by email:

 

 

anne.douse@homegroup.org.uk

 

 

lynne.dixon@homegroup.org.uk

 

 

ayshea.lasker@homegroup.org.uk