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  • FIRST POST
    • lucy632
    • By lucy632 13th Oct 19, 9:19 PM
    • 4Posts
    • 0Thanks
    lucy632
    Selling after 6 months
    • #1
    • 13th Oct 19, 9:19 PM
    Selling after 6 months 13th Oct 19 at 9:19 PM
    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. Iím only 6 months into a 5 year fixed mortgage. Is it possible to move and buy another flat thatís 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
Page 1
    • Trying to be good
    • By Trying to be good 13th Oct 19, 9:44 PM
    • 1,937 Posts
    • 2,430 Thanks
    Trying to be good
    • #2
    • 13th Oct 19, 9:44 PM
    • #2
    • 13th Oct 19, 9:44 PM
    Yes, in theory, subject to a load of caveats.
    It will be expensive in fees and charges.
    Youíll need to admit any issues with the property/neighbours etc.
    Part-exchange wonít maximise what you could sell for but does simplify the chain.
    Have a chat to your lender, or broker if you went through one.
    Mortgage Free thanks to ill-health retirement
    • ccbrowning
    • By ccbrowning 14th Oct 19, 7:57 AM
    • 225 Posts
    • 245 Thanks
    ccbrowning
    • #3
    • 14th Oct 19, 7:57 AM
    • #3
    • 14th Oct 19, 7:57 AM
    Check your mortgage early repayment charges and if it is portable.
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