Whether you’re looking to upsize or downsize you will always need to consider your mortgage. You will be faced with a few options ranging from simply moving your current mortgage to the new property, known as ‘Porting’, or, if your dream property has become available, you may need a short term loan to enable you to buy the new property and not lose out before you have sold your existing property. This is called a ‘bridging’ loan.
Ideally you would move home when your mortgage is no longer subject to a hefty early repayment charge. If you aren’t tied into your mortgage by an early repayment charge, or if you’re nearing the end of the tie in period, you are in a very good position to move. This is because you have the ability to select an entirely new mortgage or of course stay with your existing lender, either way you’re not tied down by big fees.
Selling the property
Make sure you get the best possible price for your current property, as every little penny counts - we’re talking about large transactions here after all. The difference between a 1% estate agent fee and a 1.5% estate agent fee could be a large amount of money, so always do your research.
Below are some top tips when it comes to selling your property:
- Choose the right estate agent - it’s advisable to get at least three independent valuations.
- Be flexible with viewing appointments.
- First impressions count. Increase the ‘kerb-appeal’ of your property.
- It’s a bigger room than it looks!
- Use your outdoor space effectively.
- Be a tough negotiator
Buying the property
Ask as many questions as you can. There will be obvious things you want to ask as well as things you’ll probably wish you’d asked at the time.
We’ve compiled a list below which you might find useful:
- Are you having many viewings?
- Has the property had any offers?
- How long has it been for sale?
- Do you have the electrical and gas inspection reports?
- How long is the lease (if it has one)?
- Are you aware of any disputes in with the neighbours?
- Why are the sellers moving?
- Have any renovations been undertaken?
- When was the boiler last serviced?
- Has the property been rewired?
- If you’re looking at a flat, how much are service charges and ground rent?
- How long has the seller lived here?
- What's included? (Furniture, fridge etc)
- Are there any parking issues?
- When was the chimney last swept?
- Have there been any subsidence problems?
- What's the council tax band?
- Has anyone ever been murdered here?
Some of these might seem pretty random but they can really help you decide which property is for you, particularly when you’re really torn!
Call us on 0117 442 0604 or send us an email at email@example.com if you would like to find out more.
Our clients choose to trust us over the competition because of the way we conduct our business.
Did you know that not all mortgages are available through brokers? That’s why we’ll always let you know about any cheaper deals that we’re aware of when we make our recommendation. Nothing hidden here.
We exist not only for our clients but to make the world a better place in any little way we can. We participate in ‘micro-giving’ via a charitable organisation called Buy1Give1, to causes such as conservation and clean water.
All Advantage customers have their own Client Portal for secure exchange of information, messages and documents. However, we always tailor our services to suit you, whether face to face, telephone, email or carrier pigeon.
Whilst we have arranged finance for people in all situations, we have areas we think we excel in. If you are a contractor, self-employed, a first time buyer, an older borrower or have had credit issues, you should really call us.
The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.
Our typical fee is £450 and only paid when your offer is produced. This means that if we’re unsuccessful in getting you the mortgage you won’t pay a fee, giving you the confidence you need from a broker.
Advantage Financial Solutions is a trading style of TRM Financial Ltd, an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 70 St. Johns Close, Knowle, Solihull, England, B93 0NH. Registered in England and Wales no. 09832887.