mortgage on 2nd home

fluffy66_2

Hi, am looking for advice on providers of mortgages for second homes. Looking to buy second home in London for work during the week. Any recommendations, or anything I need to bear in mind?

herbiesjp

Your income will need to support both mortgages.

Conrad

I've had various lenders agree these, including Scot Widows. Others can only do where it's the intention to let the current home now.

herbiesjp

Conrad wrote: »

. Others can only do where it's the intention to let the current home now.

I agree.

But that does not appear the case here, so the OP would need to concentrate on lenders happy with both properties.

fluffy66_2

We'd like to buy a second home to live in during the week. We don't want to sell our existing home. We have an existing mortgage of £80k with the C&G on a house worth say £250k, combined income of £150k pa. First Direct have already said no.

VIGILANT22

Approach Alliance & Leicester

herbiesjp

What is the value of property 2?
What deposit do you have?

Conrad

Nationwide
SLB
N Rock
Virgin
C&G
Halifax
Abbey - dreadful service
A&L

fluffy66_2

herbiesjp wrote: »

What is the value of property 2?
What deposit do you have?

Thanks for all replies.

Max deposit £20k; Property two for say £200k to £250k? Unsure at this stage how much we qualify for.

herbiesjp

OK

Mortgage amount is not a problem - assuming not many other debts and clear credit history.

Not all the lenders listed above offer 90% mortgages though.

So you will need to find one yourself that is happy with the scenario, or get a whole of market mortgage adviser to help you something very quickly