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04-08-2010, 01:37 PM
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can i get a second mortgage?
I already have a mortgage for 65k would i be able to get a (standard) second mortgage (not a buy to let) to buy a second property i earn 36k a year i have no loans or credit cards and my wife would be able to come in with me on a second mortgage she earns just over 8 k a year?
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04-08-2010, 10:53 PM
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possibly, you didn't give enough information to give you an answer. We would need to know, what you house is worth, how much other debt you have, what your credit score it.
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04-12-2010, 01:35 PM
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Standard mortgage lenders allow you 3 x your annual wages. so if you are earning 36 and your wife 8 (and isn't on the current mortgage) that is 132k.You currently have a mortgage for 65k so you could still get 67k on your second mortgage. There are some lenders who will give 5 x your combined salary however they are normally not as good rates and may want your property insuring it.
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