Mortgage for second property.

[tyrone1973]

Hi All,

After a bit of advice before I proceed.
I have recently moved jobs as a hospital doctor and now live too far from my family home to work on calls from there.
The onsite hospital accommodation is very poor and often has no hot water.
I have been considering buying a small second property to stay in.
I haven't really thought about renting out a room and on balance would prefer not to.
My own home has 7 years of a fixed rate mortgage left and then its paid off so wont be able to add it to this.
What type of mortgage would I be considered for?
Additional problem is that I ideally would only want to pay a 10% deposit.
Thanks for any advice.

[tyrone1973]

Due to collapse of local housing market I would probably only have around £160k in equity.
But can't lose money if you don't sell - even if you did put a huge amount in!
Family happy and will not be moving.
Looking at various properties at less than £100k.
Have at least £10k for deposit sitting in current account.
I don't think I will have any problems with affordability.
Interesting idea on taking another mortgage out on family home.