We own our home, can we get a mortgage on a second property?

Posted on 23 November 2013 by Sharon


We own our home, can we get a mortgage on a second property?

My husband & I own our own home (mortgage free) are we able to take out a new mortgage to buy a second property (not buy to let and not against the value of our property). Our joint annual income is approx £59,000.

Sharon,

Without knowing any of the figures involved I can't with 100% certainty say one way or the other, however I can't think of a reason why you can't wouldn't be able to take a mortgage on the new property you are looking to buy, and keep your current property home mortgage free. Although not every lender will offer mortgages on second properties, you should still find some competitive rates, esecially if the loan to value isn't too high, and you don't require a high income multiple.

If you'd like to talk through your enquiry in more detail and get a better idea of what your options are, then please let me know and I'll arrange a convenient time for you to talk to one of our consultants.

Regards,

Alistair

contact@johncharcol.co.uk

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