What would you do?

starburst12

Hia

As the title suggests, I will briefly explain the situation;

I have currently got a mortgage of 65k, and the property is currently valued at 120k. The property is rented out and the income covers the mortgage payments, however my partner and I would like to buy a property up to the value of 175k, he has a settled default from 2008 for 625.00, and my report is clear.

Our joint income is £53k and we currently have a deposit of 30k.

All views greatly received.

Thanks

Engeroosi

Is the mortgage you have a buy to let? if not do you have consent to let?

You can get a let to buy mortgage to enable you to buy a property with your OH, I did this 2 years ago and both me and my other half already had mortgages with consents to let. A good mortgage broker will find you a decent deal.

Does your OH half a poor credit history?

starburst12

The rented property is only in my name, my other half rents at the moment as I do.

My concern is if we would get a joint mortgage for the new property?

thanks