Hi. I just completed on a property that I intend to rent once I have finished tarting up....I am currently living in a rented property....a property has just come on the market close to where I live that I would really like to buy and would like to make an offer on asap, I would like to realise the deposit for the new purchase from the recent purchase...I have owned that property for 2 weeks
I believe [and hope]that I got a good deal on the property I just purchased....I paid 93,000 and I have a mortgage of 88,000......I believe that after the tarting up[which will include new D/G windows} the property will be worth 106,000.
The property I want to purchase will be 150,000 with the seller paying stamp duty.
Realistically how much can I take from the recent purchase to use as a deposit for the 150,000 purchase.
Any and all advice/suggestions etc will be greatly appreciated. Many Thanks. Steve.
