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Second home mortgage for holiday home

(2 Posts)
Nina20 Sun 04-Aug-13 13:38:34

Hi there,

I want to buy a holiday home in Wales and am wondering what are the best ways to raise the finance. To complicate things, ideally I woud like to buy the house at auction.

I have a fixed rate mortgage on my current home, which I will be able to pay off in four years time (when the fixed rate deal ends).

Can I take out a second mortgage? If so, can I go with any lender or does it have to be with my current lender? Are second mortgages charged at higher rates of interest?

Any wise words would be appreciated!

K8Middleton Sun 04-Aug-13 23:32:07

Try London and county brokers

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