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How do I move house?

4 replies

youaresunshine · 25/07/2021 18:54

Sorry if I sound like an absolute dimwit. I'm not even sure how to word the thread title but hopefully my post will make sense!
We got on the property ladder in 2018. After 2 dc in that time, we now know we need a bigger space. How do I move onto the next property?
Do I need to save another deposit etc?
It just occurred to me today that I don't think I understand the process or where to start!

OP posts:
JackieCollinshasnoauthority · 25/07/2021 19:03

Get your house valued to see how much equity you have in the property. That's the difference between the value and your mortgage. You can use that for a deposit on the next purchase.

UnGoogled · 25/07/2021 19:06

Speak to friends/family and see if you can get a recommendation for a broker. They are usually very good, as they only get commission once they've secured a deal for you, so they work hard to get the best one for your situation.

youaresunshine · 25/07/2021 19:13

@JackieCollinshasnoauthority

Get your house valued to see how much equity you have in the property. That's the difference between the value and your mortgage. You can use that for a deposit on the next purchase.
Thank you! So I guess I would still need some savings behind us just in case.
OP posts:
youaresunshine · 25/07/2021 19:14

@UnGoogled

Speak to friends/family and see if you can get a recommendation for a broker. They are usually very good, as they only get commission once they've secured a deal for you, so they work hard to get the best one for your situation.
Thank you for the advice. We had a fantastic broker first time round and we would be keen to go with them again.
OP posts:
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