Buying new house, but wanting to keep existing house

socrates

horace wrote: »

socrates,

There is nothing in your posts of any substance so what is there to discuss?

Perhaps, as far as this thread is concerned you might elaborate on `equity release` but sadly, as in your numerous other posts you miss the salient points.

I cannot help it if you are a slow learner, but I suppose we have to tolerate your type on this website.


h

I think the point was explained by the person that actually mentioned it in the first place - my real problem was the way you put your point across.

When you say 'we' who exactly do you mean?

Pedantic and !!!!!! - now there are a couple of words to elaborate on-

Cee U Next Tuesday!

horace_2

socrates wrote: »

Pedantic and !!!!!! - now there are a couple of words to elaborate on-

quote]



Oh dear socrates!!

Have I touched a nerve?


h

Dithering_Dad

Sorry guys, but would you please take your argument into the kiddie paypen (aka the House Price/Economy/Recession board), all they do in there is argue so you'll receive a lovely welcome.

All you're doing here is ruining the OPs interesting thread.

Spiderpig

I had the same issue and raised this with HSBC.

They said I did not need to remortgage and go to buy-to-let I could stay on the SVR.

The stinger was that they would only offer a 2 year fixed rate @ 6.79% and I would need at least 25% deposit for the 2nd property. Probably the same as the buy-to-let!!

They would give permission to rent and did not mention any cost or minimum rental etc.

Very helpful and quite keen.

the_salmon

Well to update, my news wasnt as positive as I was hoping for, but feel a little bit better informed!!
I think my option of keeping my existing property and looking for a new one to buy is totally out of the question now. I had kinda expected that to be the case.
But whats even worse is that its likely my house won't even sell for as much as what I was thinking it would (based on an estimate, not a true valuation which I will get shortly). For me to buy just a new, more expensive (the area I am moving to is more expensive than where I currently live) house will require a deposit which is likely to restrict me to buying a garage!!!!!

Need to re-think strategy and see if I can 'slum-it' with friends or commuting for the next 6 to 12 months whilst trying to cobble together enough money for a deposit and rent my house out to keep that mortgage ticking over. Thats looking the most likely option.
Thanks for your replies folks anyway, they were helpful.