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Mortgage Help!

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DDuff
DDuff Posts: 1 Newbie
in House buying, renting & selling
I just need some advice really... I’m currently saving in a help to buy isa and looking to put a 5/10% deposit for a mortgage. I’m not really sure how it works, but if I put the deposit and get a mortgage for £175,00 say but then in like 10 years I wanted to move home or location what would happen to the mortgage? Would I still be paying it for that property or could I sell the property and use the money to pay off the mortgage / use for another property.

Thanks

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  • flashg67
    flashg67 Posts: 4,004 Forumite
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    Normally, you'd redeem your mortgage when you sell, and take out a new mortgage for the new property - this would happen at the same time/same day - hence why buying & selling at the same time is so stressful! Buying with nothing to sell is much easier!
  • Slithery
    Slithery Posts: 6,046 Forumite
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    I didn't think it was possible to get a mortgage for less than £30k?
  • G_M
    G_M Posts: 51,977 Forumite
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    Slithery wrote: »
    I didn't think it was possible to get a mortgage for less than £30k?
    :rotfl::rotfl: :T
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