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2nd mortgage
Lorca
Posts: 2 Newbie
Hi,
To apply for a second mortgage, does the first mortgage have to be declared ?
To apply for a second mortgage, does the first mortgage have to be declared ?
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Comments
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What are you trying to achieve?
Mortgages show on credit searches and land registry data.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Worried as a very close friend has not declared they already own a property when applying for a second mortgage, I don't know but feel something is not quite right ?0
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What is the intention? What is happening with the current property?
Loan to value?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
It is not a problem Lorca.
Your friend will be declined and may end up on a Lender's market wide 'bad boy' list at worst.
Questioned, asked to clarify, and lent to anyway at best.
Simple.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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