Selling after 6 months

lucy632 · 13 October 2019 at 9:19PM

So 6 months ago I bought my ideal flat- first time buyer and everything was great. Now I am wanting to move out due to a whole load of issues with the flat and surrounding area. I’m only 6 months into a 5 year fixed mortgage. Is it possible to move and buy another flat that’s worth about £40k more and carry my mortgage over??? (and possibly change the loan to value ratio)
i am looking at part exchanging so hopefully can part with my flat easily.
Any advice appreciated:(

Trying_to_be_good · 13 October 2019 at 9:44PM

Yes, in theory, subject to a load of caveats.
It will be expensive in fees and charges.
You’ll need to admit any issues with the property/neighbours etc.
Part-exchange won’t maximise what you could sell for but does simplify the chain.
Have a chat to your lender, or broker if you went through one.

ccbrowning · 14 October 2019 at 7:57AM

Check your mortgage early repayment charges and if it is portable.

Selling after 6 months

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