I have no idea how it all works so I have a few questions.
If you already gave a mortgage and you're looking for a place to knock down and rebuild, do you have to pay both mortgages until the second house is built? And do you have to pay both until the first one sells?
When applying for a second mortgage do the banks take in to consideration the equity in your first place?
If anyone can give me a step by step guide about how it all works that would be great.