can you offer advice

suzy-wong_5

does anyone know how long I can have two residential mortgages for before I need to remove my name from one.

Mortgage_Master

Hi Suzy,

There's no right or wrong answer to your question. It very much depends on which lender you're with.

I assume one property is lived in and the other rented??? For the rented one, you should apply to the lender for a consent to lease agreement, although many home owners fail to do this.

Please note: Some lenders will not allow you to rent out the property full stop and ask you to transfer the mortgage to a BTL mortgage. Others will grant permission for 2-3 year period (sometimes longer), you then have to reapply at the end of the initial period.

Simon

suzy-wong_5

Thats fine. I was under the impression that you could have only one residential mortgage.
My husband lives in the other, trial seperation.

dunstonh

Back in the MIRAS days, you would be correct as you may have been getting double MIRAS. Since that was abolished, it makes no difference apart from what has been said already.