How can I work out if it’s cheaper to sell my property first and rent, or buy somewhere new first and take out bridging finance?
That will depend on the rental market in particular and the state of the housing market generally. It will also depend on the size of your mortgage and how much interest you are paying as compared with the type of property you might be looking to rent and the subsequent rental payments on this. Your Mortgage Choice broker will be able to help you estimate the cost of bridging finance, which you can then compare to the potential cost of moving versus renting. Of course you may be lucky enough to organize a simultaneous sale and purchase, which offers the lowest risk.
