first time buyer, multiple mortgages advice

MIKE86

I have a question about multiple mortgages. I am looking at buying a first home on my own, I earn 30k a year and looking at a house for around 110k, if I did this in my own name and then in a year or two wanted to take a second joint mortage with my partner on a new property; how would this reflect on the second application . I would look at changing the first mortage potentially to a buy to let and renting it out.

My partner at the point of the joint application will be earning the same as me
Any thoughts, thanks

Thrugelmir

Affordability is the key. Two mortgages to service. Leveraging up with debt increases the downside risk.

Would a larger deposit obtain you a lower rate of interest on the jointly bought property?

GMS

Second properties vary from lender to lender. Some allow more than one residential mortgage, others don't. Deposit required would vary from 30% to 10% depending on lender.

If BTL then ignored for affordability subject to rent criteria being met,

Impossible to say what the rules will be in a year or 2. Criteria literally changes daily