Can you have 2 mortgages?
Yes you can have 2 mortgages. In fact there is no maximum number of mortgages that any one person can have, it all comes down to affordability.
There are plenty of reasons why people have 2 or more mortgages: buy to let property investment, holiday let or a second home perhaps.
Each time you apply for another mortgage the lender will be looking at how you can afford it and they will want to know about the other mortgages. Generally speaking this is not a problem for buy to lets, although if you own more than 4 properties you are assessed as a buy to let portfolio landlord and different rules apply.
HOW CAN WE HELP?
Choosing a mortgage is an important financial decision and it’s easier with someone who’s on your side. We work as a whole of market mortgage broker so that you get the best possible choice of mortgages.
DRAKE MORTGAGES ARE EXPERT BUY TO LET MORTGAGE BROKERS
We are experienced whole of market brokers who can help you get a great holiday let mortgage.
We can also give you access to exclusive schemes and some specialist lenders who don’t deal direct with borrowers. Loans are available to individuals and SPV’s upto 75% and we can help with Scottish properties, mixed use, multi-lets and Airbnb.
Bridging loans are one of the most useful, multi-purpose, types of lending solutions available. You can get a bridging loan approved on almost any property for almost any reason. Great for auction purchases or snapping up a buy to let bargain.
And we can arrange them really fast.