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!