Buying a house with parter - mortgage advice

Samlouisec99

Hello, 

We will be going to see a mortgage advisor in a few months however I would love to gain some more knowledge on the subject before hand.

I purchased a flat just under 2 years ago with a two year fixed deal on a mortgage. Since then my partner and I have decided that we would like to purchase a house together. 

He will be a first time buyer and has a help to buy ISA which we are hoping to be able to use towards the deposit. 

My part of the deposit will come from the sale of the flat. What I’m confused about is how it will all work out with selling and buying a new property with my partner. I understand how lengthy the selling and buying process can be. 

Is it easier to just sell the flat pay my mortgage off and then potentially rent for a short period of time until we find a house. Or is it possible to sell the flat, pay my current mortgage off and move into a house straight away with a new mortgage with my partner is that possible? I just worry the transferring of money becomes too complicated on moving day! 

I hope that makes sense! 

Thanks for any advice given 

Sam 

K_S

@Samlouisec99 There's no need to worry too much about the transfer of funds, the conveyancer will manage that whole side of things. It is indeed possible to do it in one single transaction and that's what home-movers do in most cases - sell the house they're in and use the proceeds to pay off the existing mortgage and as a deposit on the new house they are moving to.