Buying Second Property UK | Keeping original home

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Buying a Second Property

while keeping your first

If you are buying a second property- and keeping your original home - you have two main options regarding your mortgage:

( Alternatively, if you want to know about buying for the second time, after a gap / break ... or Getting a second mortgage which are different, click on those links )

If you have enough equity in your first property then you might be able to remortgage it and release enough money to buy the second property outright.

If this isn’t the case you will need a mortgage for your second property.

What you intend to use the second property for will influence the type of mortgage you need.

If you intend to rent the property out you will need a buy to let mortgage. How much you can borrow will depend on the property’s potential rental income rather than your own income. However having a deposit will make you eligible for more competitive deals.

If you are purchasing a holiday home for your own use or a home where you intend to live part of the time you will have to prove to your mortgage company that your income will cover the mortgage repayments as well as any outstanding mortgage on your principal residence (i.e. where you live most of the time).

If you are buying a property abroad you will either need to find a UK lender willing to lend on foreign properties or approach mortgage lenders in the country where you are buying.

To read more on this subject please see the list below or your mortgage guide or your home buying guide

Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below


Value of Property	£
		(eg 125000)

Borrow How Much?	£
		(eg 92500)

Your Mortgage Type

First time buyer?		Yes No
Have you found property?		Yes No
Country

Sorry ! The amount you want to borrow is less than £25,000. This is the minimum allowed for a mortgage. But don't worry ! You could get the money via a personal loan. I want a free no obligation loan quote Click OK No thanks. I will change my borrow amount to more than £25,000 Click Cancel

Read On

Guide to Buying a Home in the UK

Guide to UK Home and Mortgage Insurance

Life Insurance Guide

Glossary of UK Mortgage Terms

Mortgage News

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Value of Property

£
(eg 159000)

Borrow How Much?

£
(eg 125000)

Your Mortgage Type

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