Purchasing a second property.......Help

ACG

Your management company are financial advisors? Get them onto the mortgage for you.

This wont be easy and to be honest i think based on what you have said its the flip of the coin. Obviously selling the property would make this whole thing a lot easier to place. As for the pregnancy, presuming you are going back to employment and your just on mat leave you should be fine - unless your scraping affordability and you have 9 months to go - some lenders may get nervous about that.

ognum

R999SEY wrote: »

Thanks ognum but my management company are accountants and financial advisers so for a fee they do the return and I meant this is my first 6 month rental period so we have only had the house rented since April this year

R999SEY

I am sure they will sort it then, it you have access to all this financial help I am surprised you ate not asking them your questions, I am sure as they know all your circumstances they can answer better than others who do not.

good luck

R999SEY

ACG wrote: »

Your management company are financial advisors? Get them onto the mortgage for you.

This wont be easy and to be honest i think based on what you have said its the flip of the coin. Obviously selling the property would make this whole thing a lot easier to place. As for the pregnancy, presuming you are going back to employment and your just on mat leave you should be fine - unless your scraping affordability and you have 9 months to go - some lenders may get nervous about that.

Thanks guys, I am going to see the advisers at the management company but not for a fortnight, thought I would do some sounding out to see what may be likely and what may not be.

Yes I will be going back to work and in terms of affordability we could afford both properties plus bills on one of our salaries if it came to it.

Thanks
R999SEY

ognum

R999SEY wrote: »

Thanks guys, I am going to see the advisers at the management company but not for a fortnight, thought I would do some sounding out to see what may be likely and what may not be.

Yes I will be going back to work and in terms of affordability we could afford both properties plus bills on one of our salaries if it came to it.

Thanks
R999SEY

If you can afford both properties on one salary then it seems strange you cannot save a deposit, I would suggest you live on one salary for a few months and save like crazy.

R999SEY

ognum wrote: »

If you can afford both properties on one salary then it seems strange you cannot save a deposit, I would suggest you live on one salary for a few months and save like crazy.

We have recently paid off all debts ready for the baby and I have only had a promotion in the last 6 months to put us in this comfortable position