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Mortgage Question?

newbie_2
newbie_2 Posts: 7 Forumite
in Mortgages & endowments
Hi all

Not sure if this is possible. Is it possible to be on 2 mortgages at the same time.

Currently living with my brother and his misses. Got a 33% share in the property. Looking to move in my girlfriend but my brother isn't in a position to buy out. Could I go on another mortgage in the mean time until he buys out my share?
Cheers
Ken

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Will your income be sufficient to afford both loans?
    I am a Mortgage Adviser
    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.
  • newbie_2
    newbie_2 Posts: 7 Forumite
    herbiesjp wrote:
    Will your income be sufficient to afford both loans?

    It wiill be. Should hold it on it for a bit as I've just changed jobs. Is there a time limit on how long i need to be in a new job before i can get a new mortgage?
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Are you on a probationary period - as some lenders will want you off the probationary period and some will not mind.
    I am a Mortgage Adviser
    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.
This discussion has been closed.
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