Again, talk with your mortgage advisor to see if you’re eligible and see if you’ll save any money.
If you’re taking out a second home mortgage then you can buy yourself a new home, under the right circumstances. For instance, what’s the reason you want another home? Is it because you want to rent out the property out, a vacation home or you want to move away? Either way, if you want a second home you should look into getting a second equity loan.
So, is a second position mortgage a good idea?
Under the right circumstances, yes, this form of a mortgage is a good idea, and there are many reasons why you should consider getting one (with proper advice and guidance from a mortgage broker).
Do you fit into one of the above categories? If so, why not take a look into getting a 2nd collateral mortgage and do what’s right for you? You can also contact our mortgage advisors to get a professional opinion on your personal circumstances.
If you have any questions or concerns, reach out to us via our contact information below: