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Two Mortgages

  • 18-08-2017 11:20am
    #1
    dar100
    Registered Users, Registered Users 2 Posts: 1,735 ✭✭✭


    Hi,

    looking for some advice.

    I have a mortgage in my name (under 90,000) left on it. I've recently married and myself and the wife want to buy another property. I don't want to sell this property, just wondering is it possible to have both houses in one mortgage, or what is the best way to deal with this situation?

    thanks


Comments

  • #2
    All in all
    Registered Users, Registered Users 2 Posts: 434 ✭✭All in all


    dar100 wrote: »
    Hi,

    looking for some advice.

    I have a mortgage in my name (under 90,000) left on it. I've recently married and myself and the wife want to buy another property. I don't want to sell this property, just wondering is it possible to have both houses in one mortgage, or what is the best way to deal with this situation?

    thanks

    No - you will need to apply for new mortgage on new property. Both mortgages would be independent of each other.


  • #3
    Samuel T. Cogley
    Registered Users, Registered Users 2 Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    And the second mortgage will be reduced by the amount of the first although some banks will take into account some of the rental income on the first property assuming that's what you're going to do. We found KBC very helpful in a similar situation.


  • #4
    Uriel.
    Registered Users, Registered Users 2 Posts: 8,062 ✭✭✭Uriel.


    Op I was in similar situation to you, though mortgage one has a higher amount left on it.

    Got second mortgage last year via a broker, via Haven. Rental income was taken into account.

    Mortgage one is on a tracker so didn't even look into unifying under one mortgage.


  • #5
    LFC Murphy
    Registered Users, Registered Users 2 Posts: 825 ✭✭✭LFC Murphy


    Uriel. wrote: »
    Op I was in similar situation to you, though mortgage one has a higher amount left on it.

    Got second mortgage last year via a broker, via Haven. Rental income was taken into account.

    Mortgage one is on a tracker so didn't even look into unifying under one mortgage.

    Did haven charge you a fee?


  • #6
    Uriel.
    Registered Users, Registered Users 2 Posts: 8,062 ✭✭✭Uriel.


    LFC Murphy wrote: »
    Did haven charge you a fee?

    I think there was a 100e application fee or something (might have been brokers fee) but nothing else


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  • #7
    dar100
    Registered Users, Registered Users 2 Posts: 1,735 ✭✭✭dar100


    Uriel. wrote: »
    Op I was in similar situation to you, though mortgage one has a higher amount left on it.

    Got second mortgage last year via a broker, via Haven. Rental income was taken into account.

    Mortgage one is on a tracker so didn't even look into unifying under one mortgage.

    Hi

    Is Haven a broker or mortgage providers?


  • #8
    Uriel.
    Registered Users, Registered Users 2 Posts: 8,062 ✭✭✭Uriel.


    dar100 wrote: »
    Hi

    Is Haven a broker or mortgage providers?

    Provider. They are a subsidiary of AIB


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