Yes, it is possible to have two mortgages at the same time, provided you can afford both and meet the lender’s criteria. Many people in Cambridge hold more than one mortgage for different reasons.

You might be moving home and keeping your current property, buying a buy-to-let, helping a family member purchase a property, or looking to borrow against the equity in your home.

When assessing an application, lenders will look closely at your income, existing commitments, credit history, and whether both mortgages remain affordable. The purpose of the second mortgage can also affect which options are available.

Using a Second Mortgage to Raise Money

If you have built up equity in your home, there may be ways to borrow additional funds without moving home or taking out a mortgage on another property.

One option available to some homeowners in Cambridge is a further advance from their existing lender. This allows you to borrow extra money against your property while keeping your current mortgage in place, subject to affordability and lender criteria.

People use additional borrowing for many different reasons, including home improvements, helping family members, or funding another purchase.

The options available will depend on your existing mortgage, the amount of equity in your property, and your personal circumstances.

If you are considering raising money from your property, it is important to understand the different routes available and how they may affect your monthly payments and long-term borrowing costs.

Keeping Your Existing Home and Buying Another Property

Some homeowners in Cambridge decide to keep their current property and purchase a new home to live in.

This is commonly known as a let-to-buy arrangement. Your existing property is converted onto a buy-to-let mortgage and rented out, while a new residential mortgage is arranged for the property you intend to move into.

Lenders will assess the expected rental income from your current property alongside your personal income and commitments when considering the new mortgage application.

Helping Family Members Buy a Property

There are situations where parents or grandparents want to support a family member onto the property ladder without gifting large amounts of money outright.

Several mortgage options may be available, depending on your circumstances. Some involve using equity from your existing home, while others allow family members to provide support through savings or security rather than cash gifts.

The most suitable route will depend on your financial position and the type of help you wish to provide.

Buying a Buy-to-Let Property

It is common for homeowners to have a residential mortgage on their own home and a separate buy-to-let mortgage on a rental property.

Buy-to-let mortgages work differently from residential mortgages. Lenders will usually require a larger deposit and will assess the potential rental income that the property could generate.

If you are considering becoming a landlord in Cambridge, it is important to understand the costs involved, lender requirements, and how rental income will be assessed.

Already Named on a Mortgage and Want to Buy Another Home?

Being named on an existing mortgage does not automatically prevent you from getting another one.

This situation often arises following a separation, when someone remains linked to a previous property while looking to purchase a new home.

It can also happen where a person jointly owns a property with a family member or partner and later wishes to buy elsewhere.

The key factor is affordability. Lenders will want to understand your responsibility for the existing mortgage and whether you can comfortably manage any new borrowing.

Mortgage Advice for Multiple Mortgages in Cambridge

Having two mortgages can be straightforward in some situations and more complex in others. The outcome often depends on your income, existing commitments, property type, and the reason for taking on additional borrowing.

Our mortgage advisors in Cambridge regularly help customers who are looking to purchase another property, arrange a let-to-buy mortgage, raise capital, or explore buy-to-let opportunities.

By reviewing your circumstances in full, we can identify which lenders and mortgage products may be suitable for your situation.

Date Last Edited: June 23, 2026