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Contractor Second 'Holiday Home' Mortgage
StaceyJW
Posts: 9 Forumite
Hi,
Just looking for some guidance regarding the possibilities of obtaining a second mortgage if I may...
First the background...
I've been living in my current flat in England for 5 years with a mortgage of £105k with 5% deposit and am now considering buying a place in Scotland, where my partner is from.
Both the mortgages would be solely in my name and we've seen a place we like for £155k and would probably put down 5% deposit.
I'm a contractor on a salary of £65k a year so am wondering whether this would be possible and what vendors are best to approach for this.
We'd be splitting our time between the locations so I wouldn't be renting out my current flat. I believe that I can afford this especially as my current mortgage is tracking the base rate so have nice low monthly payments!
Any info would be gratefully received!
Just looking for some guidance regarding the possibilities of obtaining a second mortgage if I may...
First the background...
I've been living in my current flat in England for 5 years with a mortgage of £105k with 5% deposit and am now considering buying a place in Scotland, where my partner is from.
Both the mortgages would be solely in my name and we've seen a place we like for £155k and would probably put down 5% deposit.
I'm a contractor on a salary of £65k a year so am wondering whether this would be possible and what vendors are best to approach for this.
We'd be splitting our time between the locations so I wouldn't be renting out my current flat. I believe that I can afford this especially as my current mortgage is tracking the base rate so have nice low monthly payments!
Any info would be gratefully received!
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