Things you need to know
If you have built up equity in your existing home (property value minus any borrowings, such
as an existing mortgage, secured on it) you can put this towards your new purchase deposit.
The more deposit you can put towards your new purchase the better the loan to value (LTV) will be
and the more likely you will be able to secure a more favourable interest rate.
You may be liable for stamp duty on your new purchase, and, if you decide to let out your existing
property in a let to buy you will have to pay considerably more.
Stamp duty calculator