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Tricky mortgage or not?
DevonEnquirer
Posts: 1 Newbie
Does anyone have experience of getting a top up mortgage for say 50% of a property of approx. £160.000 (first buyers) where both partners are earning but on a relatively low income (with Child and FamilyTax Credits top up) and one partner has gone bankrupt 2 years ago (discharged)? Sounds tricky, but with a 50 % deposit and a relatively small amount to borrow, where do we stand?
Many thanks for any feedback,
DE
Many thanks for any feedback,
DE
0
Comments
-
Hi DE and welcome to MSE
When you say 'top up mortgage' - what do you mean? Do you already have a mortgage or is a first time purchase?
What is the income (broken down)?
Thanks0 -
In principle it is possible but the rate will be at least 7%. Lender has to test your application for 'responsible lending'.0
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