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Would I get a mortgage for this amount ?
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Posts: 71 Forumite
Hi
We have a property which we have finally finished mortgage on it is mortgage free and valued at £475-500k.
Me and my wife have a joint income of £70k. I also have a buy to let property worth about £250k with a mortgage outstanding of £95k.
The rent covers payments by 125 percent each month.
I do not wish to sell the buy to let but would like to move to a larger family home in a location which better suits us socially and work wise
We are looking at a property worth £850k and have a cash deposit on top of our current home of about £50k.
Hope this makes sense ...so we would be looking to borrow in the region of £300k possibly over 24-30 years.
Would this be a possibility
We have a property which we have finally finished mortgage on it is mortgage free and valued at £475-500k.
Me and my wife have a joint income of £70k. I also have a buy to let property worth about £250k with a mortgage outstanding of £95k.
The rent covers payments by 125 percent each month.
I do not wish to sell the buy to let but would like to move to a larger family home in a location which better suits us socially and work wise
We are looking at a property worth £850k and have a cash deposit on top of our current home of about £50k.
Hope this makes sense ...so we would be looking to borrow in the region of £300k possibly over 24-30 years.
Would this be a possibility
0
Comments
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Yes, sounds like, in principle, it will fit with a number of lenders.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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