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Can anyone help, RE mortgage

rach101225
Posts: 4 Newbie
Hi, I have recently purchased a second property, and the halifax has re mortgaged my main house that i live in to buy my second property, i am wanting to know if at any point if i wanted to sell the main house that i live in and still wanted to keep the secound house going, can i sell my main house? or would they require me to pay up the re mortgage for the other house?, im very confused! and if anyone could offer me any advice on this it would be much apreciated.
Kind Regards
Rachael
Kind Regards
Rachael
0
Comments
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I'm more confused than you.
Did you say that you took money (equity) out of the main house (first house) to purchase the second property by cash fully?
Or does the second property have a mortgage also?
Either way, both mortgages will be independent on what you do. If you sell the first house, you pay off the outstanding mortgage on that house. This will not affect the second property unless they have second charge (security) on this property.Motto: 'If you don't ask, you don't get!!'
Remember to say thank you to people who help you out!
Also, thank you to people who help me out.0
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