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    • Jack2210
    • By Jack2210 18th May 19, 2:48 AM
    • 1Posts
    • 0Thanks
    Jack2210
    Mortgages and bridge loans
    • #1
    • 18th May 19, 2:48 AM
    Mortgages and bridge loans 18th May 19 at 2:48 AM
    Hi there guys, I bought a house 6 months ago and now Iíve spotted my dream house has come on to the market I was wondering how would I go about selling the house mortgage ect ect Iíll take all the advice I can get Iím a first time buyer so Iíve the faintest idea

    Thanks in advance
Page 1
    • silvercar
    • By silvercar 18th May 19, 7:29 AM
    • 38,989 Posts
    • 162,518 Thanks
    silvercar
    • #2
    • 18th May 19, 7:29 AM
    • #2
    • 18th May 19, 7:29 AM
    You put your current home on the market at a reasonable price to sell quickly. Redeem that mortgage and take out a new mortgage on the new house.

    If you have early redemption penalties, you could see if your current lender will port your mortgage to the new property. Essentially a new mortgage with your current deal transferred over.
    • ACG
    • By ACG 18th May 19, 8:36 AM
    • 18,843 Posts
    • 10,430 Thanks
    ACG
    • #3
    • 18th May 19, 8:36 AM
    • #3
    • 18th May 19, 8:36 AM
    Port your mortgage.
    You do not want a bridging loan if you can avoid it.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • davidmcn
    • By davidmcn 18th May 19, 8:46 AM
    • 11,181 Posts
    • 12,377 Thanks
    davidmcn
    • #4
    • 18th May 19, 8:46 AM
    • #4
    • 18th May 19, 8:46 AM
    I bought a house 6 months ago...Iím a first time buyer
    Originally posted by Jack2210
    Not any more, you're not.
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