Flexible mortgage for new house whilst waiting for old house to sell?

petehere

We have been on the Market for just over a month with no offers but quite a few viewings on our present house.
We love another house and don't want to lose it after getting an offer accepted (the sellers pulled the house off the Market until this week to give us a chance to sell).
Thinking about pulling all our savings and getting a mortgage on new property and moving out of present house to ease sale (it would be tight but we could do it for about 12months at present rates I think).
We would have just over 25% deposit for new house and once old house has sold would have 100k+ to overpay new mortgage when our house finally sells.

Any ideas on a good mortgage to fit criteria (£180k needed)?

Thrugelmir

Why not just reduce the price of your existing property?

Pincher

It's a bridging loan.

The other classic solution is to rent the old house out.
If you are lucky enough to be paying a low tracker,
the old house can generate a surplus to help pay the new mortgage.

getmore4less

Mortgage would be cheaper than bridging.

If your income will support total lending then you need a mortgage that allows the overpayment without penalty.

An offset would allow this.

If you want to keep the deal you have by porting that makes it a bit more complicated.

Getting consent to let may increase the borrowing limits for new money.
Probably worht getting this if you procceed since that may be your fallback if it does not sell a a price you want.

Income?
total lending?