how long to wait for second mortgage app?

melj16

I completed on my house purchase for my first home 4 weeks ago. I am loving having my very own home, and now can justify spending my hard earned cash on decorating it (something I have always begrudged doing to a rental, spending my money on someone else's property)

I have recently sold my business and therefore have some money that i would like to invest into another property (use as a deposit for a BTL mortgage)

I am just wondering how long I should wait before applying for another mortgage.

I have only just registered to be on electoral roll for new house two weeks ago, and i assume that takes a couple of months to be updated onto my credit file.

Any advice would be appreciated

Thrugelmir

Shouldn't be an issue. As the BTL mortgage will be assessed in it's own right on it's own merits. BTL mortgages are subject to different criteria. Perhaps more a question of you finding a suitable property which may take some time.

melj16

thanks for the reply

i was thinking more on my credit score after mortgage app only 2 months ago, and change of address (not on ER at the mo)

ACG

2 applications in 2 months is fine in the main.

Ive got a client who has recently applied for a BTL, a phone, a loan and now another BTL (All within 6 weeks) - and has passed them all.

melj16

ACG wrote: »

2 applications in 2 months is fine in the main.

Ive got a client who has recently applied for a BTL, a phone, a loan and now another BTL (All within 6 weeks) - and has passed them all.

Ahh ok.....thats good, thanks for that :j