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  • FIRST POST
    • johnscales
    • By johnscales 8th Jan 18, 3:42 PM
    • 15Posts
    • 3Thanks
    johnscales
    Being added to a mortgage question
    • #1
    • 8th Jan 18, 3:42 PM
    Being added to a mortgage question 8th Jan 18 at 3:42 PM
    I have an existing mortgage of my own and my partner and I are considering adding me to hers. What are the implications for my existing mortgage? i.e what do I need to tell my existing lender since my guess is that my primary home would be changing. Do they even need to be told? Thanks
Page 1
    • Caz3121
    • By Caz3121 8th Jan 18, 3:49 PM
    • 11,279 Posts
    • 7,397 Thanks
    Caz3121
    • #2
    • 8th Jan 18, 3:49 PM
    • #2
    • 8th Jan 18, 3:49 PM
    will your income be sufficient to support both mortgages?
    who will be living in your current property when you move out?
    • johnscales
    • By johnscales 8th Jan 18, 4:12 PM
    • 15 Posts
    • 3 Thanks
    johnscales
    • #3
    • 8th Jan 18, 4:12 PM
    • #3
    • 8th Jan 18, 4:12 PM
    Hi Caz3121.
    Yes, I am currently paying my mortgage already and she is currently paying hers. I will also be paying my half of the mortgage on the joint property if we persue joint ownership.
    My options for my existing property would then be to subsequently rent it out.
    • kingstreet
    • By kingstreet 8th Jan 18, 4:29 PM
    • 33,575 Posts
    • 18,212 Thanks
    kingstreet
    • #4
    • 8th Jan 18, 4:29 PM
    • #4
    • 8th Jan 18, 4:29 PM
    You will need to apply to your current lender for consent to let and the questions which you will need to answer about your future housing plans will be contained therein.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • johnscales
    • By johnscales 8th Jan 18, 7:31 PM
    • 15 Posts
    • 3 Thanks
    johnscales
    • #5
    • 8th Jan 18, 7:31 PM
    • #5
    • 8th Jan 18, 7:31 PM
    Thanks Kingstreet.
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