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Who does two properties in one mortgage?
iamchrisli
Posts: 255 Forumite
My broker is in the process to get back to me with more "deals", but just borrow everyone's head here to see if I will get any good deals.
My situation is:
1. offset mortgage with one account, true balance is 65k out of a 135k property.
2. earning 21k.
3. the property to look is around 100k, with deposit about 20k
4. is looking to have another property into it, because:
a. parent will be able to move to near where I live now.
b. parent have foreign pension income, to pay the mortgage, but not uk resident, so very difficult to get mainstream mortgage.
c. parent will either live there during summer break, then let out the rest of the time.
d. parent will use pension income to pay the mortgage, but I will be the one to apply it, --> I know I will be the one liable for the whole debt.
The problem is at the moment loan to value is over the earning multiple, and the second mortgage is likely to be a buy-to-let one, which means higher APR.
who will have any deals for me in those situation?\
Many thanks
My situation is:
1. offset mortgage with one account, true balance is 65k out of a 135k property.
2. earning 21k.
3. the property to look is around 100k, with deposit about 20k
4. is looking to have another property into it, because:
a. parent will be able to move to near where I live now.
b. parent have foreign pension income, to pay the mortgage, but not uk resident, so very difficult to get mainstream mortgage.
c. parent will either live there during summer break, then let out the rest of the time.
d. parent will use pension income to pay the mortgage, but I will be the one to apply it, --> I know I will be the one liable for the whole debt.
The problem is at the moment loan to value is over the earning multiple, and the second mortgage is likely to be a buy-to-let one, which means higher APR.
who will have any deals for me in those situation?\
Many thanks
Spend smart, and save more.
0
Comments
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Not exactly sure what you are trying to ask, but the answer to the title of your post is "no."0
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I'm not sure what you're asking either, but it sounds like you're wanting a regulated buy-to-let mortgage with only a 20% deposit and relatively low salary.
If there is a solution to that, it's going to involve a broker.0
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