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Home
Mover
The
Home Mover should: -
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Attempt to sell their current
home first.
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Have a conservative view on how
much profit they will make from the sale, which will form majority
of the deposit for the new property. You don't want to find at a later
stage that you have to borrow more and are unable to do so.
-
Consider stamp duty, legal, survey
and removal fees when you are working out how much you have for a
deposit.
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Complete our budget plan (be
honest as it saves a lot of pain later) to work out how much you really
can afford per month for mortgage repayments.
-
Once you have an idea of the
amount you can afford, calculate the monthly repayments for the properties
you had been considering using our calculator.
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If these repayments seem high,
then adjust the loan amount to see how much you should be borrowing.
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Remember, the percentage of the
loan amount is the percentage of the lower of the value of the property
or the purchase price.

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