Can you have TWO mortgages?

[WhatsGoingOnEh]

My first thread described the hideous situation with the house I'm trying to buy by myself. It's raking ages due to my sellers being nested around, etc, and my mortgage offer will expire any day.

My SECOND option is to buy a place with my fiancé. He earns a good salary BUT he already has a mortgage, in his sole name, on the house he shared with his ex gf. She still lives there with their 2 kids.

Can he have a mortgage with me plus his mortgage on the old house? She pays that mortgage (interest-only though) for about £399 a month.

She's horrible, refuses to key him into the house ever, only let's him ring the kids once a week, only let's him see ONE of the kids every fortnight for 2 hours... She's weirdly mad.

He'd prefer to sell the house, even give her all the equity just to go away, but we think she'd fight. We don't know what his rights are.

So in the meantime, can we get a mortgage together?

Ok... And let's correct the autocorrects!

TAKING ages
MESSED around, not nested (?)
Refuses to LET him into the house

... Sorry, but thanks in advance if you have any ideas.

Yes, as long as salary is sufficient to cover/bank will offer a mortgage.

At one point dh & I had two joint mortgages (old house and new house) as well as dh having an old mortgage in his name only.

Yes. As long as he can afford the repayments. It seems important that he sorts out his financial affairs with his ex girlfriend as he does have responsibility for the children, financially. Also, why is she paying all the mortgage? Does he not have responsibility to pay for the house his children live in? No wonder she is being difficult.

My ex husband didn't pay for the house we lived in. My fiancé pays £400/month child support for the two kids.

In contrast, my lying-about-his-accounts ex husband pays a total of £85 a month for his two kids, has never/will never contribute to their housing costs, and pays me no alimony at all.

So if we're going to take about men refusing to support their kids, let's start with him.

(Anyone remember the line in Ghostbusters, "Don't worry Ray, everyone has three mortgages nowadays.")

She's not paying back the capital, just the cost of maintaining that house (ie the interest on the mortgage) which she is living in. Presumably there are maintenance arrangements in place for the children, the OP was simply asking about mortgage arrangements.

I'm pretty sure your OH could simply sell the house, but it would put her/his kids in a bit of a shitty position. It may be as well to consider transferring the house/mortgage into her name if she is agreeable. If he is prepared to give her all the equity anyway, this would be a sensible way to do it. Would need to pay conveyancing fees and stamp duty (if applicable). That would then clear the decks on his financial responsibilities in terms of that mortgage.

Oops, cross post!

Stamp duty? Really? To transfer the house? Yikes!

But to do that, to take on the mortgage, wouldn't his ex have to qualify for a mortgage that size? As she only works one day a week, I don't think she'd qualify. What happens in that situation?

I know, when DH bought his brother out of his share of our old house he had to pay stamp duty on the half of the house if you see what I mean. V. annoying.

She would need to be able to qualify for a mortgage, is it particularly large? If she can manage the interest only, she might well be able to manage a repayment mortgage, particularly if she has extra income from your OH. Worth considering, as it would clarify things no end.

Stamp duty's full title is Stamp Duty and Land Transfer Tax - so any transfers of land/property incur the tax

Thank you!! You're all so helpful, massively appreciate it!

Hi we are in the process of buying a house that needs a lot of work and wanted to have 2 mortgages (new and old houses). It was well within our joint income but because of new mortgage rules mortgage co not keen. We had to shop round a lot

Yes you can. We still have our mortgage on our flat because we paid more for it than what we would be able to sell it for just now and we saved a 10% deposit and bought our house too. We asked for permission to let from the mortgage lender and rent the flat out to cover the bills on it until such a time comes when we are able to sell it. so far it has been ok.

Depends on the provider. We bought this house before we sold the old one but it was a condition of the new mortgage that the old mortgage was paid off within three months. I didn't think it was possible to have more than 1 residential mortgage.