Penalty for early payment ? Additional security via charge on existing property?

Hi, I have a couple of queries I'd be grateful for advice on.

(i) We own our own house - no mortgage. Value €200k
(ii) We have savings of €100k to put towards a new house.
(iii) We have seen a house we fancy that will go for approx €300k.

If we elect to apply to apply to borrow €200k and keep the old house for rental purposes, is there any chance the bank would want a charge over the old house even though the mortgage is only 67% of cost.

If we borrow the €200k and then elect within the year to sell the old house and pay off the mortgage, generally is there any penalty for early payment, and is there something we could do to minimise the potential cost.

Thanks

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