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Staircasing with different lender
huseyin_y
Posts: 1 Newbie
Hi,
I own %70 of a shared ownership flat with a lender five years fix rate. Just wondering if i can go with another lender for remaining %30 with some deposit, if i can afford.
Anyone knows if that is possible or not?
I own %70 of a shared ownership flat with a lender five years fix rate. Just wondering if i can go with another lender for remaining %30 with some deposit, if i can afford.
Anyone knows if that is possible or not?
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Comments
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Not unless you intend to approach a second-charge lender.Hi,
I own %70 of a shared ownership flat with a lender five years fix rate. Just wondering if i can go with another lender for remaining %30 with some deposit, if i can afford.
Anyone knows if that is possible or not?
"Mortgages" work on the basis the lender will have the first charge over the property and in your case that's not possible because your current lender already holds it.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
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