Hi there. I have a client who bought property in Cyprus outright. He now wants to mortage it to release some of the equity to reinvest in other property in Cyprus or the UK. Most advisers I've spoken to say you are not allowed to mortgage/remortgage to release equity for this purpose (only for refurbishment of the mortgaged property). But another investor told me last week he had done just this with the Bank of Cyprus.

Does anyone know if you can remortgage to release equity for investment in more property?

Thanks
Kimberley
Director, Property Investors Road