We've seen a house we want to put in an offer on.

Woohoo finally!

The only thing is that we haven't put our own house on the market yet so we will effectively have two loans at the same time for a while.

I THINK that should be OK. The house we own is worth around three times our current mortgage and the house we're looking to buy is approximately the gap (ie. what our current house is worth minus our mortgage).

We have savings that would cover the loan on both for about six months so that's fine but then we wouldn't have money for the deposit.

I'm sure this should all be fine. Just a very cautious person and I can't call the bank till Monday.

Never had bridging finance before so how does it work?