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buying new house before sell current one?

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Comments

  • kingstreet
    kingstreet Posts: 39,304 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Unfortunately not.

    Cross-charge facilities largely died out in the 1990s so you couldn't use property one as security for property two without actually mortgaging it (as a let to buy) and using the raised funds as a deposit.

    As you intend to sell this property, that wouldn't be an option.

    A bridging loan would be a solution - an expensive one, but a solution.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Thank you for your speedy reply.

    I think I need to calm down slow down and let go of the house I want and just do things the ordinary way.

    But thanks again
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