we'll have no issue selling our current house, great location, ppl are literally camping out overnight on the steps of the landsales office when theres a land release, and our house is pretty unique. we could keep it as a rental but i dont want the stress really!
theres no way we can pay both at the same time, it would be virtually all of DFs weekly pay on the houses and not a cent left for us, even the interest only rates are still pretty expensive, guess we;ll have to scrap that one
Talk to a mortgage broker and see what options they have for you. You may be able to get a bridging loan or some such if you have enough equity and are selling the old house - either way there will be options out there. Generally with a construction loan you only need to make repayments on the part that is drawn down anyway, so it isn't the full cost that it would be once the house is completed.
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