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Second mortgage
Malofie87
Posts: 1 Newbie
Hi,
I currently have a mortgage on my own house, which I plan to rent out and ask my bank for consent to let.
Me and my partner have just had an offer accepted on a house together.
So my question is is it better to have the consent to let in place before applying for a second mortgage? On speaking to a mortgage adviser they didn't think we would have any problem getting a mortgage together even though I already have one. Will we only be accepted by certain lenders because of this? How strict is their lending criteria. As I won't have moved out before applying for the mortgage I wont have proof for rental income.
Has anyone done something similar and can offer any advice please.
Thanks
I currently have a mortgage on my own house, which I plan to rent out and ask my bank for consent to let.
Me and my partner have just had an offer accepted on a house together.
So my question is is it better to have the consent to let in place before applying for a second mortgage? On speaking to a mortgage adviser they didn't think we would have any problem getting a mortgage together even though I already have one. Will we only be accepted by certain lenders because of this? How strict is their lending criteria. As I won't have moved out before applying for the mortgage I wont have proof for rental income.
Has anyone done something similar and can offer any advice please.
Thanks
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