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Will I still need to pay a deposit to the solicitor
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silvercar wrote:If your moving up you take your buyers deposit and top it up. Not unreasonable to think that if you bought your house with say a 90% mortgage and are no moving to somewhere more expensive, you'll still find a 10% deposit yourself so should be able to find the difference between the deposit you receive and 10% of the place your buying.
yes but if you are raising the extra money to buy a new place through an increased mortgage and the equity from your sale, you wont have that money until completion. so how do you fund the deposit between exchange and completion. in my case the gap that I would have had to top up would have been £27 000 had we been in a chain.0
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