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Mortgages
JIL
Posts: 8,873 Forumite
I am 54, husband 60.
We earn roughly the same salary.
We recently saw a mortgage broker, if I'm honest it all felt a little rushed and we came away with more questions than answers.
We have a house with a £20,000 mortgage on it, we have some savings and wanted to buy another property which needs a fair bit of work and then move into it and then sell our current home. We know there will be tax to pay and reclaim.
Because of my husband's age we were limited to 9 years mortgage.
My question is would I be able to get a mortgage in just my name? This would significantly reduce the required monthly payment and if we then decided to rent the property and keep both with a view to selling at a later date we could.
Is this possible?
We earn roughly the same salary.
We recently saw a mortgage broker, if I'm honest it all felt a little rushed and we came away with more questions than answers.
We have a house with a £20,000 mortgage on it, we have some savings and wanted to buy another property which needs a fair bit of work and then move into it and then sell our current home. We know there will be tax to pay and reclaim.
Because of my husband's age we were limited to 9 years mortgage.
My question is would I be able to get a mortgage in just my name? This would significantly reduce the required monthly payment and if we then decided to rent the property and keep both with a view to selling at a later date we could.
Is this possible?
0
Comments
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My question is would I be able to get a mortgage in just my name?
If the property is to be bought in just your name, then, in theory you can have a mortgage in just your name.
But the amount you can borrow will be based on just your income, and just your affordabilty. So it may be a lot less than you could borrow jointly.0 -
Thankyou, I really am just weighing up all the options.0
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