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#1782345
Morten wrote:I was able to remortgage the existing house to a 75% interest only mortgage and use the cash thus liberated as a deposit on a second 75% interest only mortgage on a new house, thus enabling me to be a cash buyer.


Isn't a 'cash buyer' someone who turns up with the cash to buy the property - no need for any mortgage at all? What I think you're describing is being a chain-free buyer.
#1782350
flyingdoug wrote:
Morten wrote:I was able to remortgage the existing house to a 75% interest only mortgage and use the cash thus liberated as a deposit on a second 75% interest only mortgage on a new house, thus enabling me to be a cash buyer.


Isn't a 'cash buyer' someone who turns up with the cash to buy the property - no need for any mortgage at all? What I think you're describing is being a chain-free buyer.


Oops. Of course. Corrected. Logic still holds. :)
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