House swap? not a council one

Gazella77

Hi,

I've been trying to find some info (used search option on the forum but it seems to be bringing council houses swaps).

I have a 2 beds flat which was perfect when I bought it over 2 years ago but now my circumstances have changed drastically and I need to get a bigger place so that I can get an aupair to help me out with childcare.

Anyway I thought of selling and buying but:
1. I work less hrs so my income is smaller and it's more difficult to get a sensible mortgage
2. There will be a lot of hassle and obviously chain with selling and buying

I thought that there must be some swap option esp as many people struggle and face repossession and thought it might be a better solution for them to downsize.

I need a garden for my baby and I need more space as well. I have been overpaying my mortgage by around £6000 annually and I mean the mortgage on 5.9% so I reckon I could still manage a slightly bigger mortgage, well at least I hope so.

Where do I start? What do I do? What do I need to watch out for not to get coned?

Any advice please.

This flat I bought is my first property so am unexperienced:embarasse

I bought it for £125 000 aparently it's worth around £115 000 - 110 000. I've got around 95000 left on my current mortgage and would be looking to buy sth around £130-140000

Thanks a lot

cattie

Sometimes in the past I've seen adverts in my local paper from owners trying to part exchange their house/flat with a cash adjustment for any excess monies.

I've got no idea if anybody ever had success in doing this, but I suppose it's one option you could consider.

More usual though, is for people to find somebody they know who wants do downsize/upsize or a friend has a friend who might be interested sort of thing.

Gazella77

Thanks Cattie

that's what I'm trying to figure out - looked in papers but can't see much, there were few ads on gumtree but some of them looked really dodgy.
I don't know many people in the area as I moved in only a couple of years ago