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would i still need deposit...?

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Comments

  • kwmlondon
    kwmlondon Posts: 1,734 Forumite
    mrell wrote: »
    Hi kwmlondon,

    If you have a property that you have no mortgage to pay on them yes we are in similar situation...

    I'm quite new to all this so it's good to digest all your comments....

    Hi. No, I'm in a very different situation to you in that mine's very conventional buying and selling at the same time - a chain, basically. However, the process ought to be the same but instead of getting a mortgage from scratch I'll be adding to an existing one. Same process though as the extra loan needs to be processed like a new application.

    I'll let you know what my conveyancer says.
  • kwmlondon
    kwmlondon Posts: 1,734 Forumite
    Have just spoken to my solicitor. I'll just transfer the deposit for the sale of MY property straight over to the purchase of the house I'm buying. This is normal practise, you should not need to put any more money in.
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