Getting a 2nd mortgage...

[wiggal]

Hey guys...

Just looking to see what you all think really or have any personal experience.

My fiance already has one mortgage on the house that his ex and 2 kids live in. We are renting at the minute, but he has said to me that he wants us to buy a house of our own before we start trying for a child.

Talking to my dad at the weekend, he said that when he split witth my mum and everything, he could never of got a 2nd mortgage and in the end had to give my mum his share of the house to be able to start fresh with my stepmum.

Is that likely to be the case these days!?

Thanks all

[ummmm]

You can get second mortgages. Obviously the other mortgage will be taken into consideration when looking at his income.

[bushbaby_de]

He would need to be able to prove that he has sufficient income to pay his share of both properties. if not he will need to get his ex to buy him out of his share if possible. I doubt he could force a sale if there are children living there though.

[wiggal]

Thanks for your replies.
We know she would never be able to buy him out, and he would never force sale. His kids come first and foremost to him and he does what he can to make sure they don't go without and are as affected as little as possible by their break up.

He earns good money, and I should be earning again soon, although he is definitely the main earner of the 2 of us!