Looking to move house while next size up is cheaper and more within reach.
Current mortgage is 130k and our 2 bed flat is worth 155k ish, currently been offered 150k. Been advised that mortgage companies will want at least 15% deposit (all coming from our sale).
If we move to another part of town we can get a 3 bed semi for 150k (on for 160k)that needs a bit of tidying up. These were going for 200k+ last year. Do you think our mortgage company will let us move it across (it is portable) even though 130 isn’t 85% of 150? We have no problems making payments, but don’t have anything spare for a deposit.
We are speaking to financial advisor tomorrow, but was interested what anyone may have to say on subject. cheers
