Posted on: 17th Nov, 2010 07:31 am
I have a property worth £145,00 on which I have a £20,000 mortgage. I currently rent it out long term. Would I be able to buy another house without selling the original one?
Hi Guest!
Welcome to forums!
You can apply for a mortgage to buy a new home for yourself. However, in most cases, the lender will either want you to pay off the mortgage for the existing property or else you will have to sell off the property and clear off the dues.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can apply for a mortgage to buy a new home for yourself. However, in most cases, the lender will either want you to pay off the mortgage for the existing property or else you will have to sell off the property and clear off the dues.
Feel free to ask if you've further queries.
Sussane