Advise please - 3rd Mortgage?

vczaban

Hi there,
I own a flat wth my own mortgage and my new husband also owns a flat with his own mortgage. We have rented both properties out and are renting ourselves at the moment.
We want to purchase a new house. Would we have any problems getting a joint mortgage now we have a seperate mortgage each on other properties?

getmore4less

Will depend on the numbers

Size of mortgages, rates, LTV, rental income

Your income

Size of loan you want.

Size of your deposit.

As long as they stack up there should be little problem.

Conrad

Some lenders such as Halifax can consider this. Your credit score done by the lender (forget Experian scores) will be instrumental.

redpete

If the lenders on the other properties have given permission for the properties to be let, and the rental income covers the repayments sufficiently then that problem is out of the way.

Otherwise it all depends on how a new lender takes into account ltv, incomes, other commitments (the other properties), other debts, etc. etc.