Being added to a mortgage question

johnscales · 8 January 2018 at 4:42PM

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

Caz3121 · 8 January 2018 at 4:49PM

will your income be sufficient to support both mortgages?
who will be living in your current property when you move out?

johnscales · 8 January 2018 at 5:12PM

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 · 8 January 2018 at 5:29PM

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.

johnscales · 8 January 2018 at 8:31PM

Thanks Kingstreet.

Being added to a mortgage question

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