Calculating Size of mortgage required

mattb1984_

Hi hope someone can help explain, if I am selling a current property with approximately 60 thousand equity as a result, is it as simple as applying for a mortgage less the 60 thousand of the price of the new one. My real question I guess is as this equity figure is constantly changing and approximate do you urge on side of caution and get a mortgage slightly over what you need to be safe and what happens with the excess if there is any on completion.  Thanks for any advice 

Edi81

Personally I’d go for slightly higher than you need just in case but avoiding a higher LTV if possible. Remember to include costs such as estate agent, conveyancing, stamp duty, removals.