Hi
I’ve read on a few posts that the banks won’t give a single mortgage on a jointly owned site. Can anyone explain the reasoning?
My situation is that I already have a huge mortgage on a property. Jointly owned with my ex husband and the mortgage was partially warehoused for a while after he walked out but has now been paid in full by me for the last year.
I now jointly own a site with my new partner and we want to self build. I presume due to my borrowings and previous restructure I wouldn’t be eligible for another mortgage however my partner earns enough to apply for a mortgage on his own.
Is this possible?