Selling and buying 2nd time

[Shivvy29]

We are looking to sell our home and move to a new house.
We have positive equity on the house. Do we still Need the 20%deposit or does the positive equity and agreement in principal to top up the morgatge counter this out?
Thanks

 

[HollowKnight]

You will need the 20% deposit either through your savings or the equity in your first home.

 

[Leo]

Lots of threads on this topic already, including this recent one.

agreement in principal to top up the morgatge counter this out?

You won't be topping up a mortgage, you will need to clear the one on the current property and take out a new one on the new property. If you don't have significant savings, it's likely you will have to sell the first property before you can purchase the second. Chains are rare.