This is one of those questions that may seem pretty straightforward until you look for the answer. You may need to keep a few things in mind, such as your options for releasing your equity, how much you have, whether you can use it to invest in buy-to-let and more.

Can You Use Equity in Your Property as a Deposit to Purchase a New Home?

This is one of the most common ways people use the equity they built in their homes. But you can do it. You can use equity as a deposit, giving you a chance to lower the amount you need to borrow for the new mortgage. That allows you to reduce your loan-to-value or LTV, which enables you to have a much greater range of mortgage choices.

The simplest way to look at things is as an unsecured profit, something that makes the difference between the sheer market value of a home and the amount you still owe until you pay off the property. You haven’t sold your home yet, so that makes it unsecured. Property prices fluctuate, or you may pay off more of the mortgage before you see the equity you accumulated released. There is also a flipside to this, in the face of:

Negative Equity

Whether or not you can use the equity in your home as a deposit, we’re looking for positive equity. On the other hand, if you owe more than the value of your property, you have fallen into negative equity. This happens when a home’s price drops dramatically for one reason or another. Certain places have disproportionate amounts of homes that fall into this category, thanks to the state of the local property market. If you ever find yourself in this situation, you should either move home or remortgage your property, but that could be extremely difficult.

How to find out if you have accrued any equity in your home

The formula to work out your property equity is fairly simple, but you need the proper figures before you can start calculating. The rough property value can be gauged by doing a bit of online research. You can do that on property portals like Zoopla, Rightmove and so forth, searching for similar properties in the same area as yours that was recently sold. This gives you an idea of the price range offered, something you can also obtain by calling a reputable local estate agent to get your home professionally viewed.

You can check the latest mortgage statement or call your lender for what’s left to pay off your mortgage. Most lenders out there will send mortgage statements annually, so your latest one may not be that recent. It’s best to give them a call to get more accurate figures. With those two things in mind, you can subtract the amount you owe from the value of your property. The result is the amount of equity you have.

6 Ways to Release Equity from Your House

If the results of your calculations show you’re positive, that’s good news, and you may want to think about how you can use that to your advantage. The listed tips below give you that chance:

• Obtain a second charge mortgage
• Take out a further advance loan
• Use the equity to buy your next home outright
• Remortgage your home
• Access equity via an equity release scheme
• Use the equity as a deposit on your next move

©Open Estates

Everyone wants to buy a house where they can live with the people whom they love. That’s why most people start to save money from the beginning so that they can have enough money and can buy a house that they have always wanted to live in. But investing in real estate can be tricky and a person cannot do it alone without any help. If you are also planning to buy a property in Ghana, you are recommended to take the help of a real estate agency for property search. Of course, you can find a property or two on your own but since you may not an idea of the real estate rates, and the ever-fluctuating market conditions it is possible that you might end up paying more than you should.

That’s why it is always advised to have a credible and registered real estate agency on your side so that you can know about the best real estate deals. But remember that you cannot trust any real estate agency that is present in the market. If you want to work with professional real estate brokers who have been in this business for a long time, you should do thorough research taking the help of the Internet. When you are doing the research, make sure that you are selecting an agency that is registered and knows everything about the fluctuating real estate rates. You can also ask a few questions like “What is your average number of current clients?”, “Are you licensed?” or “How many sales you have done?” These questions will help you understand whether you want to work with the real estate agent or not.

But, if in case, you have not found any real estate agency, don’t worry because Ghana Prime Properties is here to help you. It is a leading real estate platform which has a team of professionals who find the best-of-all deals on property to rent in Ghana, commercial properties, residential properties, land for sale, and corporate housing for you.

So, if you are looking for a premium online platform that can help you buy, sell, or rent property in Ghana, you should trust none other than Ghana Prime Properties. Besides sales and rental services, this real estate agency also offers property advisory services, commercial retail & leasing services, valuation services, developer services, and more.

About Ghana Prime Properties:

Ghana Prime Properties is a leading real estate agency that you can contact to find short term apartment rentals in Accra Ghana.

For additional details, just visit https://www.ghanaprimeproperties.com/

Original Source: https://bit.ly/2xuHCu0

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If you want to relocate to Ghana, perhaps you have made the right decision. Today, Ghana is counted as one of the flourishing countries in terms of infrastructure, connectivity and employment opportunities. When you live in Ghana, you will be eventually delighted with the friendliness, charm and originality of the country. However, when it comes to finding a house in a country like Ghana, things become quite difficult. In order to buy or get house for rent in Ghana, you need to do thorough research and analysis on a range of real estate brokerage before relocating to Ghana. After all, you cannot rely upon any other random real estate brokerage without checking its credibility, right? When you have a trusted real estate brokerage by your side, the process tends to become less complicated and you can safely invest in your real estate property without any second thought.

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Ghana Prime Properties is regarded as the prominent online real estate platform where you can sell, buy or rent residential real estate properties at the best price. It offers you the best solution for real estate in Ghana, which is simply worth it. Besides buying, selling and renting residential properties, you can also take a look at their commercial properties, luxury getaways and short stay properties. Being the finest online real estate business in the Ghanaian market, the company takes pride in having a knowledgeable team of professionals who provide you with remarkable real estate marketing, design and sales solutions. Visit Ghana Prime Properties and buy, sell or rent your real estate properties at the right price.

About Ghana Prime Properties:

Ghana Prime Properties is an online portal that you can visit to check property to rent in Ghana.

For more details, visit https://www.ghanaprimeproperties.com/

Original Source: http://bit.ly/2v7LCPC