Is a mortgage possible?

GMS

Changing terms is always a good excuse for fees, especially with sub prime lenders. You should have been given a tariff of charges with your mortgage offer.

Have a chat with a broker to see how you could proceed.

Do you have a deposit or are you waiting for the property sale to go through?

abubble

I'm waiting for my home to sell but I own 100% of the property so I would be willing to put between 80-100% of the money i get from the sale towards my next property (the reason I say 80-100% is in case there are any repairs needed to new property)

So as a real minimum I would expect somewhere in region of 48K deposit towards houses of approx 110K in value....

I think this would give me a fair deposit percentage to help me secure a mortgage?

GMS

A deposit of that percentage should open up doors for you.

Have you considered renting out the exixting property? You could possibly release some funds from that to pay the deposit on the new place.

May speed things up if you are in a hurry to move

abubble

I have considered renting, it is something my partner and I have discussed but the worries are if the property ends up empty/wrecked by tenants and needing a large outlay by us. It would also mean potentially 2 mortgages... it is something we are considering but approaching this option with caution :-)

GMS

It is something that needs to be considered and you are wise to do so. Just a thought which may have sped up the purchase for you.

abubble

GMS do you know any companies that may deal with us over the phone please? Just so I have somewhere I can start with
Good advice could help to make the right decisions

GMS

I can't recommend any under forum rules as I cannot be seen as biased or having any agreements with other brokers. Most brokers would be happy to deal with clients over the phone. Most of my clients seem to prefer it for the reasons you said earlier.

Recommendations are the best way to go if you can find any.