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Applying for mortgage but have existing mortgage
jetfighter
Posts: 249 Forumite
I was wondering if anyone can advise me...
My partner currently owns a house which she's putting on the market next week. She has an outstanding mortgage of about £60k with Halifax.
We are looking to buy together. I have a lump sum for a deposit (I do not have a house to sell) and don't have a mortgage.
We'd like to be assessed for a mortgage as joint applicants, but probably not with Halifax. We've seen a few good deals with Yorkshire Building Society and Santander so would probably approach them.
Will we be able to get a mortgage valuation while my partner is still paying her Halifax mortgage? Obviously she is planning to pay it off once her house sells.
Just not quite sure what order to do things in!
My partner currently owns a house which she's putting on the market next week. She has an outstanding mortgage of about £60k with Halifax.
We are looking to buy together. I have a lump sum for a deposit (I do not have a house to sell) and don't have a mortgage.
We'd like to be assessed for a mortgage as joint applicants, but probably not with Halifax. We've seen a few good deals with Yorkshire Building Society and Santander so would probably approach them.
Will we be able to get a mortgage valuation while my partner is still paying her Halifax mortgage? Obviously she is planning to pay it off once her house sells.
Just not quite sure what order to do things in!
0
Comments
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Yes. She's in the same position as every other homeowner with a mortgage.
You simply note the existing mortgage will be repaid on completion of the sale of the existing property.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Wonderful, thanks. I knew I was probably over-complicating it in my mind!0
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