Can I have more than one mortgage?

Is it possible to take out more than one mortgage at any given time? Maybe. Here’s what you should know about having multiple mortgages.

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Is it okay to have more than one mortgage? It can be, yes. Let’s break down how many mortgages you can have at one time, and the rules that might apply.

How many mortgages can I have at once?

Well, legally, there’s no limit. You can technically have as many mortgages as you like for multiple properties. So, if you want a second, third or even fourth mortgage and you can afford the monthly repayments, there’s nothing to stop you from applying.

Affordability is key here, though. Sure, you can have multiple loans, but if you can’t keep up with the payments, you could seriously damage your credit score in the long term. It might be worth getting some financial advice before applying for another mortgage.

When might I have more than one mortgage?

There are many reasons why you might consider taking out two or more mortgages. For example, you might want to:

  • Buy a second property for someone else to live in
  • Purchase a house or a flat as a buy-to-let
  • Buy a property to let out as a holiday home
  • Raise money without remortgaging your house

You can have more than one type of mortgage at a time. For example, if you have a residential mortgage on your own property and you want to buy a property to rent, you can apply for a buy-to-let mortgage.

Can I have more than one mortgage on my house?

Yes – it’s called a second charge mortgage. There are many reasons why you might want one, but they’re popular with people who want to fund home improvements or consolidate debt.

Before you take out this kind of loan, though, just be sure you need it. For example, if you want to pay for home improvements, you might find an unsecured loan or credit card is a better option.

It’s probably worth getting financial advice before you go down this route.

How many buy-to-let mortgages can I have?

It all depends on your provider. Some lenders let you take out however many buy-to-let mortgages you want. Others only let you hold one or two of these loans at one time. In any case, you must show that:

  • you can afford the initial deposit; and
  • the rental income will be enough to cover the costs.

If you’re looking for a buy-to-let mortgage, be sure to shop around for the best mortgage deals.

How do I apply for another mortgage?

There’s no special process for applying for a second or third mortgage. You can simply shop around for a suitable deal and apply to the lender. They’ll check you meet their eligibility criteria, and they’ll want to know you can afford the extra debt.

Before you apply, just make sure you understand all of the costs involved in running more than one mortgage at one time. Since they are secured loans, your home may be repossessed if you can’t keep up your repayments.


If you’re considering taking out more than one mortgage, it could be best if you speak with an FCA-registered mortgage adviser first.

  • Interest rates may be higher depending on your provider, so be sure to factor this into your budget.
  • Shop around price comparison websites to boost your chances of finding the best deals available at the time of your application.
  • Before applying for another home loan, check your credit history – rejected applications can lower your score.