Any Mortgage companies for two properties?

oblivion_6

Guys,

Im trying to find a lender who will be happy to give me a mortgage for a property im buying and not mind that I have another property with a different lender.

Ive heard that Halifax may offer this but not managed to find anything?

The issue is that I bought at a good price before selling mine as I can easily afford to run both each month and thought about renting the smaller one.

Anyone know of any companies that wont insist on me providing rental details etc ?

Fairdo_2

If you can afford to maintain both mortgages, I don't see why Lenders wouldn't entertain you keeping the other home aswell. If you are planning to rent that out anyway, it will not do any harm to get several Letting Agents around to confirm the likely rental income you could achieve, as that is what some lenders require as proof anyway.

If they are quite some distance apart from eachother, then some Lenders will allow a mortgage for a 2nd home anyway. Again, subject to THEIR satisfaction that it is affordable to run both mortgages.

TMW do a "House to House" Mortgage, which allows you to have a Buy To Let mortgage based on your surplus income, so they don't need proof of your anticipated rental income.

Abbey Santander and C&G have done 2nd property mortgages for my clients in the past. There will be many more. Best thing could be to get a recommended Broker to do the legwork for you. Give them your specific details and requirements and they should find the most suitable option for you.

herbiesjp

There are several lenders that could potentially agree such a scenario - but it will depend on the exact plans you have for both properties and the timescales in which you want to implement them.

Be careful though, as many lenders may want to see either a BTL mortgage offer letter for the first property, consent to let the first property, and/or confirmation of what rental income you could expect on that first property.

So there are plenty hoops to jump through - even if buying as a second home or for dependents.

oblivion_6

Cheers for the advice guys, weve managed to get consent to let from our current place and faxed this off to Abbey and hopefully they should sort us out now