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got one mortgage need another!!!
skyrack
Posts: 5 Forumite
Ive got a joint mortgage with my wife we got £70000 (over 20y) to pay on it. I am moving back to north of England and want to buy a flat as a temporary measure as i dont want to pay rent and waste £7000 a year. My wife will be still living in original house until next year when she is able to move north and therefore able to sell the house.
Conclusion - I am paying half mortgage with wife. Can I get a separate mortgage in my name only. Use flat as an investment and to let out in 12months time ??????
Exist mortgage remaining - £70000 joint
New flat cost - £140000
My wage £40000
Wife wage £20000
Cheers
Skyrack
Conclusion - I am paying half mortgage with wife. Can I get a separate mortgage in my name only. Use flat as an investment and to let out in 12months time ??????
Exist mortgage remaining - £70000 joint
New flat cost - £140000
My wage £40000
Wife wage £20000
Cheers
Skyrack
0
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