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Holiday Home Mortgages!!

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  • Holiday Home Mortgages!!

    I want to buy a holiday home in Cornwall but my bank has told me I cannot have two residential mortgages. Is there any other way I can go about buying the house?

    It is not true that you cannot have two residential mortgages. Many high street lenders will be fine with the fact that you wish to buy a second home as long as the mortgage will be affordable.

    If it is your wish to let the second home out from time to time it may be that you require a slightly different type of mortgage but if you speak with a mortgage broker they can explain the various options to you. For example you might raise the maximum you can against your own home so as to borrow the least against your second home. This will save you money against your second home mortgage as the banks exposure will be much lower.
    Worldwide Financial Planning is a specialist independent provider of Large mortgages.