How can I buy this house given I have a house to sell in this market?
There is a house that we really want to buy. It is exactly what we need where we need to live. But we haven’t sold our house yet. We have moved out into rented because our move was essential, so my house is now sitting empty. Is there any really ingenious out of the box way you can suggest that I can buy this house given I have no savings to put into a deposit? Some background: Our house is grade 2 listed 250 year old 4 bed cottage and under normal conditions very saleable. We have a mortgage for a bit over half of its value (when it was valued in July), probably getting towards two thirds by now. We suggested a part exchange where we would cover their selling costs to the vendors (who have also moved out & left their house empty) but don’t think they will go for it. We are nervous about renting our house out given that it is listed and the rental income would not cover the mortgage anyway. Presumably it would be even harder to sell with tenants in too. What can we do?Report