If you’re thinking about buying a second home without selling your current property, you’re not alone. Whether you’re planning a move, buying a holiday home, or investing in a buy-to-let, skipping the typical property chain comes with several advantages—and a few things to consider.

What does it mean to buy a second home before selling the first?

Buying a second home before selling your current one means you’re not part of a property chain. You won’t be relying on the sale of your existing home to fund your next purchase, which puts you in a much stronger position as a buyer.

This approach is common for homeowners who:

  • Want to move quickly in a competitive market
  • Plan to rent out their current property as an investment
  • Are relocating but not yet ready to sell
  • Want to secure a dream home before it’s snapped up

If you’re exploring buy-to-let options, check out our guide to Buy-to-let mortgages explained for more detail.

What are the benefits of buying without selling first?

There are several strategic advantages:

1. You avoid a property chain

Not being dependent on the sale of your home makes you more attractive to sellers, helping your offer stand out in a crowded market. It also reduces the risk of delays or deals falling through.

2. You can move at your own pace

With no pressure to align your sale and purchase dates, you can plan your move on your terms. This is especially helpful if you need time to renovate or furnish your new home before settling in.

3. You may benefit financially

If the property market is rising, holding onto your existing home may increase your overall wealth. You can sell later when prices are higher—or rent it out for a passive income stream.

4. You know your options

With no sale pending, you have more flexibility when it comes to offers, negotiation, and mortgage approval. You can also explore different types of mortgages that might suit your circumstances, like interest-only vs repayment mortgages.

What should you consider before buying a second home?

Of course, buying a second property isn’t without its challenges:

You’ll need a larger deposit

Unless you’re a cash buyer, lenders may require a higher deposit for your second home—particularly if it’s a buy-to-let or holiday property.

You may need a specialist mortgage

Buying a second home may involve different mortgage criteria. You’ll need to show you can afford both properties, especially if your current home still has an outstanding mortgage. Learn more about how much mortgage you can afford.

You may face tax implications

Second homes are subject to higher stamp duty rates in the UK. It’s important to factor this into your budget. A mortgage advisor can help you weigh the costs and determine what’s feasible.

Can you use your equity to help fund your second home?

Yes. If you have enough equity in your first property, you may be able to remortgage it to raise a deposit for your new one. Head over to Should I remortgage my property? to explore your options.

OneDome is here to help

Choosing a mortgage is complex but OneDome is here to help. If you have any questions about the specifics of mortgages, the wider mortgage process or want tailored advice on the different types of mortgages that suit your situation you can:

Important: Your home may be repossessed if you do not keep up repayments on your mortgage.