IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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is it possible to have a second mortgage that isnt buy to let?
had a quick look but they all come up as btl
what will a mortgage company require for a second mortgage? 10% deposit?
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Why do you need a second mortgage that isn't BTL?
IIRC, the only way you can do it is if the second place is occupied by a family member.
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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situation is i live with my brother but i want to move out whilst still holding onto my half of the first house.
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Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
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You can get a 2nd mortgage but you will need to prove that you can pay the mortgage on both at the same time.
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baza31
Member
Registered: 19th Apr 03
Location: yorkshire
User status: Offline
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And you wouldn't be able to rent it out while you have a non btl mortgage
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Toby
Premium Member
Registered: 29th Nov 05
User status: Offline
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quote:
Originally posted by Rob_Quads
You can get a 2nd mortgage but you will need to prove that you can pay the mortgage on both at the same time.
This, you will need to pass the affordability of both places which is going to require a huge salary unless you have a huge deposit (which @ 10% isn't).
quote:
Originally posted by baza31
And you wouldn't be able to rent it out while you have a non btl mortgage
and yeah you can't 'rent' it out 
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