Mortgage Question

zsha

Hi all, I am just wondering if anybody would know anything on this....
Basically I bought my house about 7 yrs ago. I since got married and we have a lovely ds.....
All along, I have said I only bought this house as an investment but we have always saved as much as we possibly could in order to build our own house in the country where we're both from.
Anyway we started building last March, as our planning was running out. And between our savings and both sets of parents we have done well and have got much further than we could ever have imagined.

Now Im thinking, and this is where you might be able to advise, when the time comes (prob be few yrs) and we have house is a way that we can live in, if I sold my current house, and paid off whatever I got for this house off the mortgage, do you know if I could transfer the rest of that mortgage onto our new house???
Does that make sense? So say I owe 140k on this house and I sold it for 50k so that would mean I still owe 90k to the bank, but could I transfer this 90k onto our new house do you know and just continue to pay it....

Does that make sense to anybody or am I living in a dream world Its just something I have thought about or wondered about and said Id ask here now and hope somebody might be able to help.

Thanks in advance

NIMAN

I think the answer is no.

afaik, a mortgage is attached to a property and you would have to pay off that mortgage and take out a new one.

But someone else may disagree with me.