Best move?

[Kally]

Okay so I've got a dilemma. I feel I'm in a situation where to could potentially be a masked opportunity if I play my cards right so it would be great to have different views on it. My parents have a mortgage on a flat which is currently occupied by a tenant and is paying itself off with around 80k left on the mortgage which is located in London. They were initially thinking to sell it but I was thinking that, would it be considered a wise move to re-mortgage the property and use the excess as leverage to put towards another property to let out? if not, what would be the best way to approach this situation considering that the 2-bedroom flat will go for around 180.


Thanks