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Applying for a 2nd Mortgage
yus786
Posts: 676 Forumite
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
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
0
Comments
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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.0
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