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Joint mortgage question
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Ramario
Posts: 2 Newbie
Hi,
I am a joint mortgage holder and on the deeds of my mothers home, the mortgage is very small around 20% LTV. If I want to get a mortgage of my own for a house I want to buy, will this joint mortgage stop me and count me a second homeowner?
Many thanks for any helpmin advance!
I am a joint mortgage holder and on the deeds of my mothers home, the mortgage is very small around 20% LTV. If I want to get a mortgage of my own for a house I want to buy, will this joint mortgage stop me and count me a second homeowner?
Many thanks for any helpmin advance!
0
Comments
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Depends on your income, if your income supports the 2 then it shouldnt be a problem.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Thanks my income more than covers both Mortgages, as my mothers is very small around 50 pounds per month.... So to confirm it won't stop me getting a normal rate. I was concerned I may have to pay as if I'm a second home owner/or penalised in some other way?0
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Expect to be penalised to the extent that your £50/month reduces what you can afford on your income.So to confirm it won't stop me getting a normal rate. I was concerned I may have to pay as if I'm a second home owner/or penalised in some other way?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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