Can i get a second mortgage

supermoneysaver20

Hi there,

I am currently tied into a mortgage with a previous partner, who doesn't want to sell.

I own 50% of the property and it is a good investment, therefore i would like to find out what my options are in terms of keeping this mortgage and buying a second property with my new partner.

My current mortgage is a help to buy flat.

Could you let me know if it is possible for me to get a second mortgage, will it severely affect how much we can borrow?

Thanks

kingstreet

The HTB rules prohibit you purchasing another property while the HTB loan is in existence and you remain a party to it.

Speak to Target the post-sales HTB Agent to establish their attitude before you do anything else;-

http://www.myfirsthome.org.uk/

A mortgage lender will normally "tax" your affordability with the cost of any commitments such as loans, card debt, mortgage or HTB equity loan so this may impact what you can borrow for a new purchase.