Two mortgages?

GMS

Are you happy with a tracker rate or would you prefer a fixed?

Not sure what is meant by the 'month to declare it'. You should declare the mortgage you currently have to the lender at application stage. It will most likely show on the credit search anyway so may mean some awkward questions. You cannot not declare it. Unless I have read the post wrong, in which case I apologise.

Is your financial adviser 'Whole of Market'?

numbercrunching

The FA is a guy my folks have used before, and although I've been told he is a whole of market broker, I don't think he is.
We'd prefer the certainty of a fixed rate, and having heard some reviews I think I'd rather avoid that lender anyway.

I kind of figured it would have to be declared though, as even if it's only for a short while, to not declare it would surely be fraud. And I have no desire to do anything not only illegal but that would stop us getting a mortgage.

I'm doing some searches of my own, and I think we'll either find a different advisor or find a deal ourselves. Because something isn't sitting well with me with this guy.

GMS

The lender will ignore your current mortgage for affordability on the condition it was to be repaid. Your mortgage offer would state this so you could not complete on the new one until the old one was repaid. The solicitors would need to comply with the condition.

For this reason it would be much easier to get the sale and purchase to complete on the same day.

If you would prefer a fixed rate then you should not be talked into a tracker. It is a personal choice, some people are happy with the chance of payments changing, others aren't.

Abbey come in for some crticism, some deserved but a lot of it not so. I have found them to be superb and less than average but with a nudge they can usually be moved along.

If your broker is Whole of Market it should be stated in the Initial Disclosure Document.

Good luck with the search.