Another mortgage.(uk)?
I have
a buy to let mortgage(49k) on property no1, which is successfully let to long term tenants. i have
a sizeable deposit (10k) for a 2nd mortgage on somewhere i hope to live.
will my 1st mortgage in any way affect my proposed 2nd mortgage? if so, how and why?
i intend to see a mortgage adviser asap, but am curious..
Answer
Your first mortgage should not effect a second property if you brought it on a buy to let basis. if not change it to a buy to let mortgage by a remortgage. then your mortgage for the house you intend to reside in will be worked out on your salary and the lenders multiplies. hope this helps. i know a nice
independent adviser if you need one
