Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

Selling/Buying house costs

3 replies

Fidgety31 · 20/02/2023 22:13

Hi. I am about to try and sell my first house (approx £200k) and buy another one elsewhere in the country. I hope to have approx £150k equity after paying off the remaining mortgage and will hope to buy for about £200k so will need to try and get another small mortgage - if this is how it works? What fees are involved ?
I haven’t done this before so not sure of what costs there are ?
Also should I use the same solicitor to sell my house that I use to buy the next one - they will be about 150miles apart so not sure if this matters ?

OP posts:
NewHopes · 20/02/2023 22:22

If the house value is the same, can you just port your mortgage? Speak to your existing provider and see if your mortgage is portable as that would probably involve less fees than getting a new one. Also, a new mortgage would be at a new rate which are increasing a lot. If you can transfer your mortgage to a new property then you should be able to keep your old rate.

Fidgety31 · 20/02/2023 23:39

Thank you - I wasn’t aware you could move a mortgage so I’ll look into it

OP posts:
StillWantingADog · 20/02/2023 23:42

Fidgety31 · 20/02/2023 23:39

Thank you - I wasn’t aware you could move a mortgage so I’ll look into it

This is def your preferred option but not all mortgages can move with you
as for solicitors then ideally yes the distance will make no difference.

New posts on this thread. Refresh page