Advice on moving to the north... mortgage query

[onvacation]

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!

 

[mf1]

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

mf

 

[onvacation]

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!