# Advice on moving to the north... mortgage query



## onvacation (15 Jan 2009)

I am a house owner with my wife in Kildare and plan to move north in a year or two.  My inheritance is a site in Co Derry so I plan to build a new home from scratch.  However I have little savings and want to know if anyone can advise me on the move and in particular how to handle the mortgages...

Obviously I do not want to have two mortgages running simultaneously so how do I keep my existing house and get a new mortgage to build the new house.  I am sure it will take a year or so to build the new house so I'm not sure how to go about things.

Any advice would be appreciated!


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## mf1 (15 Jan 2009)

1. Sell your current house. Easier said than done. 
2. Rent until new house is built. 
3. Mortgage on new build only.

mf


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## onvacation (16 Jan 2009)

We would prefer not to rent at all and had hoped that there may be a way of getting a second mortgage in the north in the understanding that we will start repayments once we sell our existing house... may be just wishful thinking though!


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