Buying a holiday home abroad

kindofaverage

Hope this is the right place to post this question?

we are thinking of buying a holiday home abroad, approx £80,000. Is it possible to ask our bank to add this to our mortgage please as we have approx £160,000 mortgage on a house valued approx £450,000+

does anyone have any ideas on this please?

herbiesjp

As long as your income can support the new mortgage balance then yes.

If you are tied in on a current deal, the extra borrowing will be on whatever current rates are available.

The application will be fully underwritten like a new mortgage application, so all supporting documents will need to be supplied as well.

NOWSE

kindofaverage wrote: »

Hope this is the right place to post this question?

we are thinking of buying a holiday home abroad, approx £80,000. Is it possible to ask our bank to add this to our mortgage please as we have approx £160,000 mortgage on a house valued approx £450,000+

does anyone have any ideas on this please?

Only just noticed your PM. I have now replied.

globetraveller

yes- our mortgage also covers 2 properties abroad. You have more than enough equity on your house.

lagoslife

This may be of use; What is the best way to buy a holiday home?
http://www.guardian.co.uk/money/2011/apr/27/best-way-fund-holiday-home