We are looking to trade up soon.
We would be getting a mortgage for the new house as a 2nd time mortgage applicant as my wife bought the first place. Thus we would need a 20% deposit. It seems an unfair rule but at least the mortgage will be less.
We will need to sell our own place first I would presume. What is the best way of going about this? Should you move out (and rent elsewhere) and get the place in top nick or just let viewings happen while we live there. With young kids that would be an issue.
If we did sell we probably would have a small window to buy the new house. Is going for a new build the best option in this case as a deposit could secure and it might take a year for the house to be built. This would give us time to sell our own.
Has anybody been through this before?