How can I buy another property? bluep

#1
I was the mortgage "mainstay" when I bought a house with my ex (the bank offered me a higher mortgage on my salary alone than they were willing to offer us a a couple due to his age). We bought a house with 30% deposit - 20% my capital and 10% his. House cost 220k, bank were offering to lend me on my own 500k



I've moved out and he is thinking of moving in 6 months time so we would be able to sell the house. It's probably gone up in value by 30k in the last 2 years.



I've seen a house I'd like to buy for 160k now though. Current mortgage on the first house is 140k. Any way of buying a new place without waiting 6 months for ex to move and sell the first one? Especially as I could get a mortgage for one property worth the two of them put together!



Affordability isn't a problem - can easily demonstrate this. I can pay both mortgages and it wouldn't be a high proportion of my income (less than a third).



Any ideas apart from a madly expensive bridging loan?

#4
Thanks for the answers. I'm late 30s, some loans/credit cards but monthly payments are less than 10% of my monthly income. Current mortgage is about 20% of my income and I'm living rent free elsewhere at the moment so just have travel/living expenses. Hence why I don't think affordability is an issue. I should be able to get 10% deposit together and will have to find the SDLT cash from somewhere.



I spoke to my bank's mortgage advisor (who ironically did the last mortgage for us a while back) and they were very flexible actually - said that they wouldn't do it for buy to let but in the circumstances, thought they could manage an additional mortgage given I was looking to buy a quite low value property in relation to my income. Arranged an appointment for next week so will see how that proceeds.

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