Hi guys,
I do have 2 questions and I do hope you can help shedding some light:
My partner and I are working at putting ourselves in a financial position where we will be able to buy a house together in the next 2 to 3 years.
We live in a 2 bed apartment and my partner owns it. He is on a tracker mortgage.
We are looking at:
Buying a house jointly while renting out this apartment. Would this affect his tracker mortgage? We will of course check with the bank when the time comes but this question came up when we were talking about this and we would love to know how feasible our plan is. Can you rent a property that has a tracker mortgage on? or do you have to live in with such mortgage?
Also, while he is an owner, I am not. At present I am a first time buyer but we will be married by next summer so what would our status be?
How do we buy jointly with one being a first time buyer and one who is not?
Thanks
I do have 2 questions and I do hope you can help shedding some light:
My partner and I are working at putting ourselves in a financial position where we will be able to buy a house together in the next 2 to 3 years.
We live in a 2 bed apartment and my partner owns it. He is on a tracker mortgage.
We are looking at:
Buying a house jointly while renting out this apartment. Would this affect his tracker mortgage? We will of course check with the bank when the time comes but this question came up when we were talking about this and we would love to know how feasible our plan is. Can you rent a property that has a tracker mortgage on? or do you have to live in with such mortgage?
Also, while he is an owner, I am not. At present I am a first time buyer but we will be married by next summer so what would our status be?
How do we buy jointly with one being a first time buyer and one who is not?
Thanks