We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Hypothetical question - two mortgages on one property?

triggerhappy_2
Posts: 436 Forumite
I'm just wondering about this as a possibility.
I realise it isn't possible (or at least very unlikely) to get two separate mortgages on one property with two different lenders as one will want to have 'first charge', but is it possible for two people to get two separate mortgages with the same lender?
It's not really likely that I would do this, but it's good to know all your options. Thanks for any input
I realise it isn't possible (or at least very unlikely) to get two separate mortgages on one property with two different lenders as one will want to have 'first charge', but is it possible for two people to get two separate mortgages with the same lender?
It's not really likely that I would do this, but it's good to know all your options. Thanks for any input

0
Comments
-
No it's not possible, it would need to be joint.0
-
I think it might technically be possible, but I can't see that it is something a lender would be happy with...0
-
You can have lots of mortgages, but they have to be joint and as you say 1st, 2nd charge etc. It could be done in theory with legal help but not worth it as lenders would say no.
Why? If its an ownership issue you can have a joint mortgage but have the property as tenants in common. Its means its split and does not pass to the other person if anything happens to them, its goes to the estate."Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.4K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards