Back to blog

Mortgage Advice to Buying and Selling Properties

The financial impact of a home move can be huge, which is why everyone needs mortgage advice to buying and selling properties.

Buying a home is a major commitment and selling your house is often an emotional and time-consuming task. However, when you buy and sell property at the same time, the workload and financial pressure is immense. With our help, buyers and sellers in Harlow and Stevenage have made informed decisions when moving home.

This is why you need the best support, and Geoffrey Matthew helps you arrange a mortgage, put your finances in place, and sell then buy with confidence. We have helped many buyers and sellers across Essex and Hertfordshire, and we are always happy to discuss your mortgage options.

To arrange an appointment to discuss mortgage advice for buyers and sellers, please contact Geoffrey Matthew today.

Steps to follow when buying and selling properties at the same time

The Home Owners Alliance (HOA) recommends the following steps when buying and selling a property at the same time:

  • Have the home you own valued
  • Speak with an advisor and review your finances
  • Meet with a mortgage broker and work out what you can afford to pay when selling and buying
  • Hire an estate agent – preferably with local knowledge, so choose one with offices around Harlow or Stevenage
  • Find a property you wish to buy, making sure you can afford it
  • Hire a dependable conveyancing solicitor

You will be pleased to know Geoffrey Matthew can assist you with all these steps when buying or selling property. We are experienced estate agents in Essex and Hertfordshire, and we know the best financial professionals across Harlow and Stevenage.

We take you from start to finish when buying and selling homes, giving you much less to worry about.

What happens if I sell my house before mortgage is up?

Ideally, when you sell your current house, the sale proceeds will pay off the existing mortgage loan. You might even have money left over to assist with buying your next home.

If you don’t make enough money from the sale of your home to pay off your mortgage, you’ll need to finance this payment.

Speaking to a mortgage advisor about this situation is vital, as they will help you find a viable solution that allows you to buy and sell property. We can connect you with mortgage brokers in Harlow or financial advisors in Stevenage, so please let us know which suits you best.

Will I pay an exit fee when settling my current mortgage?

Perhaps. Whether you have to pay an exit fee when selling your home and settling a mortgage depends on the conditions of your loan. If you are due to pay a fee for settling a mortgage early, this might impact what you can afford to pay when buying a home.

There are many upfront costs associated with buying a house, with fees and the deposit looming large. Therefore, having additional fees to close off a mortgage can be damaging.

We always advise buyers and sellers to speak with financial advisors and mortgage brokers. These professionals deal with these matters daily, and are best placed to guide you on all mortgage matters.

We are happy to recommend mortgage brokers and advisors across Essex and Hertfordshire, so please ask us for assistance.

Contact Geoffrey Matthew for mortgage advice when buying and selling properties

At Geoffrey Matthew, we understand the importance of actionable mortgage advice when buying and selling properties. For clear guidance that helps you move home in Essex and Hertfordshire, contact us today to arrange an appointment.

Back to blog
Seraphinite AcceleratorOptimized by Seraphinite Accelerator
Turns on site high speed to be attractive for people and search engines.