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New sale
Dianeg
Posts: 1 Newbie
Hi, a little advice needed, we want to buy a new property and have to sell ours to fund it, we are worried that ours might not sell quick enough to purchase the new one, we don't want to lose it as it's perfect, we have no mortgage and own another 4 houses which are rentals, we own all out right and have no mortgages, could we re mortgage on our assets ? If so, how much can we borrow, can we pay it off once our house has sold ? We've never had a mortgage so are a bit naive in this case. Thank you
0
Comments
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Speak to a good mortgage broker. You should be able to raise money against the properties to secure the new one (depending on the value of your property portfolio).
Why not turn your current property into a BTL with a mortgage and use that to fund the new property ?0
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