Part of our guide to selling your house for cash, fast.
Yes — you can sell your house for cash while you still have a mortgage. Most people selling do. The mortgage is simply paid off from the sale money on completion. Our main guide on how to sell my house cash fast covers every route, the timescales and the trade-offs.
What happens to your mortgage
Before completion your solicitor asks your lender for a redemption statement — the exact amount needed to clear the mortgage on the completion date. On completion, the buyer’s money goes to your solicitor, who pays the lender first, then any other secured loans and costs, and sends you what’s left. Our guide to what happens to your mortgage when you sell goes into more detail.
Things to check first
- Early repayment charges — many fixed-rate deals charge a fee if you repay early. Your mortgage offer or lender will tell you the amount.
- Other loans secured on the house, such as a second charge, which also have to be repaid.
- Whether the sale price covers everything you owe.
If you owe more than the house is worth
If the sale won’t clear the mortgage, you’re in negative equity. You can still sell, but you’ll need your lender’s agreement and a plan for the shortfall. See selling a house in negative equity.
If you’re behind on payments
Selling for cash before a lender takes possession can mean you keep more control over the price and the timing. Talk to your lender early, and get free advice from a debt charity such as StepChange or Citizens Advice. Our page on repossession explains the options.
Selling for cash in Merseyside and Cheshire
We buy houses for cash across Merseyside — Liverpool, Wirral, Sefton, Knowsley and St Helens — and nearby Cheshire, within easy reach of Liverpool and the Wirral: Halton, Chester, Ellesmere Port and Warrington. Each local page has sold prices for the area and what a fast cash sale looks like there.
Next steps
Tell us about your property and roughly what you owe, and we’ll tell you honestly whether a cash sale would clear it.
Common questions
Can I sell my house for cash if I have a mortgage?
Yes. Your solicitor pays off the mortgage from the sale money on completion and sends you what’s left.
Will I have to pay an early repayment charge?
Possibly, if you’re in a fixed or discounted deal. Your lender can tell you the exact amount before you agree a sale.
Can I sell for cash if I owe more than my house is worth?
Yes, but you’ll need your lender’s agreement and a plan for the shortfall. Get advice early.