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Mortgage to buy a second home
Does anything change if the mortgage is for a second home?
Yes, it changes, but not much. The difference you will find in the terms and conditions for buying a second home is in the percentage of financing usually offered for such mortgages, so if you are considering one, don't let it stay just a dream.
- If you're thinking about buying a house for the weekends.
- If you're thinking about buying a house for your holidays.
- If you're thinking about buying a house to let.
- If you're thinking about buying a house as an investment.
This is what changes:
The percentage of finance for a second home is usually reduced to 60% compared to the normal 80% for a first home. As with any mortgage, the remainder depends on your financial situation, employment, etc. In short, the same factors that are considered when approving a first home mortgage.
Are you going to apply for a mortgage to buy a second home? We'll help you.
Have your figures drawn up personally and by a person. A personalised offer in just a minute with no obligations. Shall we begin?
One question you have probably asked yourself is: can I apply for a mortgage if I already have one?
Yes, there's no reason why you can't apply for one. The only thing you have to consider when applying for a mortgage for a second home is your ability to borrow, or, rather, your ability to save. This is just the difference between your income and your expenses.
Are you still paying off a mortgage on your first home? You have three solutions and no problems.
You can have two separate mortgages
You can extend your current mortgage
You can remortgage your primary residence
MORTGAGE COMPARISON TOOL
Fixed. No, variable. No, fixed, fixed. We display both of them in front of you for you to compare and decide.
At a glance, we get a better idea of why we choose what we choose. With a mortgage, what you want to see quickly is the interest rate, the amount to be financed, the maximum term and the conditions. Here it all is: a comparison tool and both your mortgages, side by side.
You will have lots of questions and, luckily, most already have an answer
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