I am legally separating from my husband, and we have agreed to continue paying on a joint mortgage on our existing house. (Like a investment type thing). My name will be on that mortgage as well as his. I am moving to another area and instead of paying rent, can I legally take out a mortgage on a property on my own? Thanks
Of course you can. There is no legal reason why you should not have mortgage-secured loans on more than one property, no matter whether on your own or jointly with anyone, spouse or not.
But can you afford it? Lenders will look at your spending commitments and will deduct what you are paying on the old place from your income before applying the multiples rule.
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