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Mortgage advice

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I own my house with no mortgage which has been up for sale for a while now. I wanted to sell the house and using that money plus money saved buy a new house but it is taking too long to sell and I need to move ASAP. I would like to buy a new house using 55% saved money and have a mortgage for the remaining 45% which I would pay off when my house sold. Does anyone have any advice about what type of mortgage I should get?

Comments

  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    A mortgage without an early repayment charge. Alternatively N Rock allow the full mortgage to be cleared bar the final pound as far as I recall.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Offset products allow this.
  • Thanks for the replies. Would you advise an interest only mortgage or a repayment one? If the former would the Building Society accept the ultimate sale of the house (surely it must sell sometime soon!) as a repayment method?

    Should I be able to pick a good mortgage myself using the resources on this site or would I be better advised to use a mortgage broker/advisor?

    Thanks,


    Michelle
  • Why don't you just rent somewhere until you've sold your house?

    Rgds
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