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Applying for a 2nd Mortgage

Hi

I have a mortgage with the One Account (Virgin) which i shall complete early 2014. Actually i am stoozing at the moment, so am not paying any interest and my balance is actually around zero.

I have seen another house, would i be able to take another mortgage as long as i can make the payments?

Or would i have to wait till my existing one finishes.

Cheers

Comments

  • kingstreet
    kingstreet Posts: 38,986 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You can,within reason, have as many mortgages as you can afford. The new lender will consider your current position and lend to you based on your credit worthiness, deposit and its current lending criteria.

    Ensure you point out that the current mortgage will not end when the new mortgage starts.
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
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