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New mortgage in place before sale
Sibelius1
Posts: 21 Forumite
I am putting my property on the market in May, and have a question regarding applying for a new mortgage.
Basically I stand to gain around 35k, and plan to pay off 10k debts and put the other 25k down as a deposit.
Can I make a mortgage application, based on what deposit I believe I will be able to afford after the sale of my flat? I am keen to have a mortgage fully agreed and in place before completion of my sale, so that I can make a confident offer on any new properties that are/become available during the selling process.
To clarify, I don't want an agreement in principle, I would like the credit check completed and everything OK'd subject to my sale going through and the deposit becoming available
Any advice would be greatly appreciated
Basically I stand to gain around 35k, and plan to pay off 10k debts and put the other 25k down as a deposit.
Can I make a mortgage application, based on what deposit I believe I will be able to afford after the sale of my flat? I am keen to have a mortgage fully agreed and in place before completion of my sale, so that I can make a confident offer on any new properties that are/become available during the selling process.
To clarify, I don't want an agreement in principle, I would like the credit check completed and everything OK'd subject to my sale going through and the deposit becoming available
Any advice would be greatly appreciated
0
Comments
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im in same boat wanted to do full application so as no hicups further down the line halifax will hold offer for me for 6 months
i think you will have the 10k debt go against your offer i.e they will give you 2 fiqures
1 with 10k debt
2 without debt0
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