Many movers sell one home and buy another on the same day. Here’s how the two sides fit together and where they usually get stuck.
Most people agree their sale before offering, which makes them a stronger buyer.
Combine your likely equity with a mortgage in principle to see what you can buy.
Having the same firm handle your sale and purchase can make coordinating them simpler.
Once both are agreed you’re part of a chain: your buyer, you and your seller all depend on each other.
You may port your current mortgage or take a new one. Either way, the offer has to line up with your dates.
The deposit for your purchase often comes from your sale, moved by your solicitor at exchange.
Your sale and purchase normally exchange at the same moment, so you’re never committed to one without the other.
Your buyer’s money arrives, your mortgage is paid off and your purchase money is sent on, usually all on the same day.
Delays happen. Storage, temporary accommodation or bridging finance can cover the gap.
One-day moves need careful planning, especially with keys arriving late.
Buying, selling, remortgaging or simply not sure where to start? Tell us what you’re trying to do and we’ll help you work out what you need.