I have 2 properties one of which i intend to sell. The prior one is becoming available during Mar next year which i intend to keep, the second one is going to become available by May of next year which i hopefully will be able to sell in about 4 months the latest.
My question is, in a situation like this - i will have to hold 2 properties for almost a period of 6 months (hypothetically speaking). Should i use a bridge loan for such or can i clear a second mortgage for the time being and pay that back once the second property is sold, the amount that i will clear off from the second property sale - will be used towards additional DP for the first home.
In my situation, what would be the best financially for me to do, in order to limit my property carrying cost for those 6 months. Please share your knowledge regarding this avenue.