K
Kate121
Guest
My Husband currenlty has an endowment mortage, we have been advise that there will be a shortfall of Approx 30,000 when the term is up in 12years time. Because of this we want to change the mortage and also changethe house into both our names. But also we would like to purchase a holiday home.
So we were hoping to take out a tracker mortgage with a new lender on our current home but to include in this mortgage the cost of our new holiday home, if we do this our total mortgage would be 75% of the value of our current home.
Firstly Can we do this ???
Are we subjected to Stamp duty on the holiday home if it is new ???
Is this the most economical way to go about things ????
So we were hoping to take out a tracker mortgage with a new lender on our current home but to include in this mortgage the cost of our new holiday home, if we do this our total mortgage would be 75% of the value of our current home.
Firstly Can we do this ???
Are we subjected to Stamp duty on the holiday home if it is new ???
Is this the most economical way to go about things ????