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Selling/buying in Scotland

2 replies

Mum2Fergus · 10/05/2026 21:42

I feel utterly ridiculous having to ask this but despite being ripe old age of 58 I’ve only owned my current home (FTB at the time). I’ve seen the most amazing house that I m really interested in…when I sell my current home and mortgage is repaid does the positive balance effectively become the deposit for the next house? Or does my current mortgage come with me to new house, albeit I’d need to increase it slightly.

OP posts:
Motheranddaughter · 11/05/2026 02:13

The first option

Kwamitiki · 11/05/2026 06:55

The current equity moves with you.

However, may be able to "port" your mortgage (eg if you have a very good rate, or to avoid early repayment charges) and add a second mortgage on top.

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