Single mortgage when already have a joint mortgage

trelawney75

I have a joint mortgage with my husband.  I am considering buying a property in just my name as well.  Would that count as a second home?  I am also considering renting out one of the rooms.  Would that affect the type of mortgage I could get?

The house would be in a different part of the country and I would plan to split my week between the two

Thanks 

Keep_pedalling

Yes it is classed as a second home. Will this be your home?

kingstreet

Yes, to second home.

No. Type of mortgage would be unaffected.

Be careful of reduced maximum loan to value for second homes and the stamp duty land tax (in England) surcharge for second properties.

FlorayG

It's a second home and renting out a room ( not the entire house) means the person you get is a lodger. You need to inform your insurance company if you have a lodger but I've never informed my mortgage company as a lodger doesn't have the rights to remain that a tenant does. Just make sure that the lodger is sharing parts of the house (kitchen, bathroom) with you and doesn't have a self-contained annexe