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Second home mortgage affordability... existing debt
jay1107
Posts: 1 Newbie
Hi, need some advise the mortgage broker i got in contact with has not responded to me, so want to know if this is doable.
We currently have a mortgage for around 50k on a house worth 190k, we took several loans out to do alot of renovations and owe about 30k on loans.
I have a second house which is mortgage free and going to be sold. All debt will be paid off, apart from the cars, I am looking to buy a house closer to home for a relative to live in, we will have about 20% deposit and want a property around £140k, we earn around 65k between us. Perfect payment history etc, no defaults Does this sound doable?
Thanks
I have a second house which is mortgage free and going to be sold. All debt will be paid off, apart from the cars, I am looking to buy a house closer to home for a relative to live in, we will have about 20% deposit and want a property around £140k, we earn around 65k between us. Perfect payment history etc, no defaults Does this sound doable?
Thanks
0
Comments
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I cant see why not if you going to be clearing your debt before getting the 2nd house.0
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