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Question re: mortgage application
dumbo
Posts: 167 Forumite
I own a residential property which I dont live in or rent out, I have a small £15000 mortgage on this but I want to borrow another £10000 to bring the total to £25000. The problem is I own this house in my name only & I also own the property I live in with £101,000 mortgage jointly with my partner. I applied to current lender for the extra £10000 & was refused, as they see it as I am paying 2 mortgages & dont take my husband into consideration as he is not named on 2nd house. Ive been told credit card bill of £5000 is problem. Do you think if I was able to pay this off & reapply would this go through? The property in question is worth £75000, so lots of equity there.
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