Second Home Mortgages
From a place to lay your head in the city to weekend bolt holes, a second home mortgage brokered by Pure Property Finance can help you purchase an additional property.
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How is a Second Home Mortgage Different?
Not to be confused with a remortgage or a second charge mortgage, a second home mortgage is separate to any loans on existing properties. A second mortgage is designed as a mechanism for purchasing a second home, which you live in part of the time.
A second home mortgage differs to a basic residential mortgage as you will already be making monthly contributions towards a loan, something that creditors will take into account when considering your eligibility and affordability.
Even if you decide to live in the new property, it will still be treated as a second home mortgage. Furthermore, you will likely need a larger deposit for a second property purchase than your first and interest rates may be slightly higher.
- Generous affordability calculators
- Complicated or non-standard incomes welcome
- Access to specialist non-high street lenders
Whether you’re coming to the end of a current fixed rate, have out-grown your current property and are thinking of moving, or you’d like to borrow more money against your property to use elsewhere, remortgaging your house could be the answer.