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I'm hoping someone can help answer a question I can’t seem to find an answer to online.
My fiance and I own a property together and have a shared mortgage. (Property value: £190k Mortgage of: £158k). However, due to my work commitments, I am considering purchasing a second smaller property nearer to my place of work, as we are unable to sell and move due to my finances work location.
The property I’m looking to purchase is approximately 120k however I only have a deposit of 5%.
Both my fiance and I are in stable relatively well-paid jobs 40k + and would be able to support a mortgage individually.
My question is, is it possible to remove one person from the mortgage so that I can then apply for a separate new mortgage by myself?
And would the fact that I have previously been on the mortgage affect the mortgage deals that I could apply for?
Your advice on the matter would be very much appreciated!
Many thanks in advance
