Yes, there is most likely an option where you can have two mortgages as there are many situations that require a person to have more than one mortgage. Our Mortgage Advisors in Bristol can typically help with this.

Some of the reasons for wanting a Second Mortgage could be:

  • Do you want a second mortgage to raise money on your existing home?
  • Are you looking to rent out your existing home and purchase a new one?
  • Are you looking to help your children out with a second mortgage?
  • Do you require a second mortgage to purchase a Buy to Let Mortgage in Bristol?
  • Is your name on an existing mortgage and you are looking to buy a new property?

Second mortgage to raise money

If you have equity in your home and are looking for a second mortgage to release some of this to fund a purchase, then we may be able to help.

This situation is known as a further advance. A further advance is when you borrow more from your current lender to fund something like home improvements or a second mortgage.

The amount that you can borrow from them will depend on the amount of equity in your property. Your lender will need strong evidence to prove that you can afford both mortgages. Our mortgage advisors in Bristol can access competitive second mortgage deals and options through our large panel of lenders. 

Second mortgage to rent out existing home to purchase a new one

If you are looking to move house but keep hold of your existing property with the view to let it out, we may be able to help. Your second mortgage will be a new residential one.

Second mortgage to purchase a home for your children

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 through to achieve this.

Second Mortgage for a Buy to Let

If you are looking to purchase a Buy to Let our Mortgage Advisors in Bristol will advise you on the best way to go about this. You will get asked to produce a higher deposit for this than a residential mortgage.

Named on your existing mortgage and want to buy a new home?

Are you currently named on another mortgage and would like to purchase a new property? In any case, this is a situation that our Mortgage Advisors in Bristol come across regularly, mainly due to divorce or separation and we are often able to help.

Whatever your situation is to get a second mortgage. As an Experienced Mortgage Broker in Bristol, we can search 1000’s of mortgage deals on your behalf. Additionally, recommend the most suitable product for you based on your situation.

Date Last Edited: October 4, 2024