When to apply?

jetsetwilly_2

Currently selling my house. Will need more money for a more expensive new place.

Found a good deal with Teachers BS. They offer to pay legal fees, what does this save me approx?

Anyway, the point is, when do I apply? Do I wait until mine sells etc or do I apply now based on what i plan to pay/expect to sell for etc?

~Beanie~

You wait until you have got a buyer for yours and found somewhere else to buy.

Yorkie1

Until you have had an offer accepted on a new place, you'd be limited to what is called a Decision, or Agreement, in Principle.

This is a ballpark figure of what they will lend to you. It is only valid for a few months (depending on lender) so you don't want to get them left right and centre, because each time they leave a footprint on your credit search record.

Once you've got your offer on a new place accepted, then you apply for the mortgage. Bear in mind that the deal you've identified may no longer be available by the time you're applying.