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We took our moving costs from equity in the house and adjusted new mortgage to suit.
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We aimed to get everything done from the equity but we failed to budget for a few things, including £3k in early repayment fees, double charges from the movers, a hotel for the night when we didn't exchange on time, and takeouts / DIY stuff while we were getting the place livable. Get some savings if you can, it's easy to miss stuff, and a bad time to have to put it on the credit card
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In my experience, the mortgage company cares little about what you are using the mortgage for so long as the LTV is sufficient.
The stamp duty holiday came in whilst we were buying and we didn't adjust the mortgage and ended up buying a car instead with some of the surplus.
eskay
ReekBlefs
aggi
@Polygon
This is a dumb question but are people paying these costs from savings? My wife seems adamant that we could fund a move with equity from the sale of our house, but I'm pretty sure that's not how it usually works.
I've sold once and bought twice, and last time I paid for all costs with savings, though they were small due to no stamp duty or movers, this time we're looking at>10k stamp duty and there's no way I'm moving everything in a van.
We'll not be maxing out our potential borrowing so I suppose it might be possible with some things, but maybe lenders would look unfavourably on some of it paint for a moving firm.