There is most likely an option where you are able to have two mortgages as there are many situations that require a person to have more than one mortgage. Our Mortgage Advisors in Lincoln can normally help with this.
Here are some of the reasons for needing two mortgages:
If you have equity in your home and are looking for a second mortgage to release some of this to fund a purchase or something else then we can help.
Quite often at this time if you are currently on a lenders standard variable rate, we are able to shop around and find a more competitive deal at the same time as releasing capital. A further advance with your current Lender is also an option.
If you are looking to move house but keep hold of your existing property with the view to let it out we will be able to help. Your second mortgage will be a new residential one. This type of move is known as a Let to Buy and is becoming increasingly popular in recent years.
If you are exploring the options available to you of helping your children or grandchildren with getting on the property ladder there are now many products that we can run though to achieve this.
If you are looking to purchase a Buy to Let we are able to help. You will be asked to produce a higher deposit for this than a residential mortgage. To read more about Buy to Let please click here.
Are you currently named on another mortgage and would like to purchase a new property to live in? This is a situation that we come across on a regular basis especially due to divorce or separation and can often help.
Whatever your situation being to get a second mortgage, being an Experienced Mortgage Broker in Lincoln we are able to search 1000’s of mortgage deals on your behalf and recommend the most suitable product for you based on your individual situation.