Can we buy a house to live in, before the property that we are named on, that my mother-in-law lives in is sold?

Posted on 1 October 2013 by Becki

Hello, I have a very complicated situation where by myself and my husband technically own (mortgaged) the house that my mother in law lives in whilst we live elsewhere in a private rented house. We had to set up the mortgage in our names which is a long story but the question is, we would really like to buy a house for us (me and husband) to live in but would need a mortgage to do that. Can we have a second mortgage on a second property? If so, from who and would it take the amount we "technically" owe on our mother in laws house into the LTV? The house is on the market to be sold so the mortgage we currently have will eventually be paid off so is it better to wait until all that is dealt with first or is there a way for us to have a second mortgage and buy a house of our own now? Thanks so much.


I would agree that your situation does sound a little complex, but not insurmountable, and I think that there may be a way we can help.

However, without knowing any of the actual figures involved, I can't really say anything definite. I'd like the opportunity to get one of our consultants to speak to you in more detail, so that we can get a far better idea of how we can make this work for you. If you'd like to do so, then please let  me know and I'll arrange a suitable time for one of them to contact you. 



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