What's my chances?

Gail33

Advice needed before I embarass myself asking banks and building societies. I currently own a property which has about 62k worth of equity in it. My partner is not currently on the mortgage. We have seen a new build house that we are interested in but need to be in a position to buy when the house is released at the end of May - this doesn't give us long to sell the house.

Can you approach banks/building societies and see whether they will give my partner a mortgage offer taking into account the equity held in my property. This will inturn give us more time to sell the house as the new build won't be ready till October earliest.

Am I making sense - I don't want to keep reducing the selling price of our house for a quick sale !!!

Help needed - anybody got any ideas please

Thank you,

Compensationitis

If your current lender can't help it might be difficult to arrange a mortgage straight away if your incomes cannot cover both loans. I would have thought you are not under an obligation to actually pay for the house until it is habitable and a lender wouldn't provide the funds until then anyway unless it is a self-build or brigding facility, a deposit should suffice until October.