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Equity as deposit
Bradcat
Posts: 2 Newbie
Hello everyone
I would like to move house and just wondered if I can use the equity in this house as a deposit on my new house. Would I still need some sort of cash deposit?
Many thanks
I would like to move house and just wondered if I can use the equity in this house as a deposit on my new house. Would I still need some sort of cash deposit?
Many thanks
0
Comments
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You've got it correct - you can use the equity in your house as a deposit - no cash deposit needed (provided you can mortgage the new house based on that). You'll need cash for the EA and solicitor fee's though.0
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Thankyou! The house we are looking at is cheaper than the one we are in now so hopefully we can just port everything over.0
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