Buy now, sell later

The clients had found the perfect flat in their ideal London location. They wanted to break the chain, buying now, selling later.

The existing home was valued in excess of £800k, of which the majority was equity. The new home was valued at £1.2m. The client planned to release equity from their current home to use as a deposit on the new property, utilising two mortgages in the short term to avoid a chain. Once the former home had been sold, a new mortgage utilising all equity would be arranged. The main applicant had substantial employment income, owned two mortgage-free buy to let properties and had significant cash savings.