There are a number of reasons why one moves and in some cases it can be just as daunting as when you bought for the first time. We will sit down with you and go through all your options; for example: should you keep your existing mortgage and port (transfer) it to your new property, or should you buy with a new lender.
Sometimes clients also like to weigh up the options of keeping their existing property; is it possible, can you release equity from it to buy your new place, what are all the costs involved?
You may also be buying with someone who is a first time buyer. They may not have bought before so it could be a new learning experience for them. Or it may have simply been some time since you last bought. Regardless of the situation we will ensure you understand all of your options. Markets change and the options you had last time round could be completely different to the market you are in today.
We also do a lot of work with clients who are divorcing or separating. It can be an emotional time for a number of reasons and in some cases, work with solicitors and the courts is required. We are happy to formally assess affordability and confirm in writing to the necessary legal teams.
It is always worth speaking to someone to go though all your options and costs.
If you are moving speak to your current lender and ask them if you can port your mortgage to your new property. Find out what their terms are.
If you want to consider letting out you existing home check the likely rental income.
Also check with your lender if you can let out your property with them, you must not let out your property with out their consent.
Contact us for more information or a one to one meeting.