How to buy a new property without selling your old one

By Anita Jaynes on 26 November, 2020

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It may be that you are looking for a pied-à-terre in the city. Perhaps your dream home has come on to the market sooner than you can sell up yourself. There are many reasons why people need to buy a new property without having to sell the old one first. If you have already been looking into this, you will know that you first must consider the question of finance. So, what is the best way to purchase a new home without selling your old one?

Sell Other Assets

You could consider selling other assets in order to purchase your new property. It could certainly be the simplest solution depending on the liquidity and value of them. It can be worth looking at your options. However, few people keep enough liquid assets around to fund a property purchase. It may take you as long, if not longer, to sell your other assets than arrange a mortgage and you may still find yourself needing a mortgage if your assets are worth less than you thought. Take some financial advice before you withdraw any assets as your tax liability may make this option less desirable than you may have thought.

Bridging Finance

This could be a good solution if you know you will be selling your old property shortly and will repay the bridging finance this way. It is best to use this as a short-term loan solution as it can work out quite expensive over the longer term. However, it can be simple to arrange, so you are likely to be able to proceed on your purchase quickly. Speak to experts in bridging finance like Enness, who will be able advise you on this option. This is one of the leading names in the bridging finance industry. They have completed many large and complex transactions of this nature and they have access to an unlimited number of lenders.


Depending on the value of your new purchase, you may be able to re-mortgage your existing property to buy your new one. This could work well, but it will depend on you having enough equity in your existing property to make this a viable option. Therefore, it makes more sense to use this if you are buying a pied-à-terre or downsizing, as you will not be able to use this method to purchase a bigger or more expensive property. The good thing about re-mortgaging is that it is usually quicker to arrange than a new mortgage, so your purchase could be faster.

There are certainly ways of buying a new property without selling your old one and these could work well for you depending on your circumstance. However, it is always best to speak to the experts and let them advise you on the solution that will work best for you. Make sure you keep up the repayments on any finance option you are offered to avoid adversely affecting your credit rating.