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Getting a mortgage
alanwalker67
Posts: 13 Forumite
Can anyone help and answer this question for us. My partner and me are both on incapacity benefit and income surport and get help towards our mortgage interest payments and have done for about 4 years now. The question is would we be able to get another mortgage if we sold our house for say 125k and wanted to buy another house for less, say 110k, we would be putting down 65k on the new house which would mean having a mortgage for 10k less than we have now. By the way we never missed a mortgage payment yet, even in this postition so as far as I can see we are at no risk.
0
Comments
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It's possible, but not guaranteed.
I'd talk to your existing lender first - if you've shown them that you can afford a higher level of debt in the past, there's every reason for them to lend you a smaller amount in the future.0
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