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simonprop

Buying a home and selling existing one

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Hi guys I have a house I paid for in cash and currently live in. I wish to get a mortgage for another property move in and sell my current one straight away afterwards. My question is can I use my current house as a deposit? 

 

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You would typically use a short-term loan (aka bridging loan) to raise the funds to purchase your new home. The bridging loan paid off in full when you sell the original home.

Many do not have that flexibility and would look to do a "chain" purchase.
Where their are multiple purchases and sales, taking place at the time time.


:wub: Get Mortgage Advice from my Team at Bespoke Finance on 08009202001 or email hello@bespokefinance.info 
:ph34r: 
Please don't take my messages on Property Hub as Personal Financial Advice, just a rambling guy passing time on a Coffee Break.
 

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