Upsizing (getting a bigger house) – if you are looking to get a bigger property / mortgage compared to the current one, you will required to prove to mortgage lender that you can afford to pay higher monthly repayments. You can prove your affordability by showing them your income and outgoings; they may ask you to provide them with bank statements and your monthly wage payslips. If your credit history isn’t good and have missed mortgage monthly payments, you might struggle getting another mortgage.
2. Downsizing (getting a smaller house) – If you are looking to get a cheaper / smaller house, your mortgage amount will decrease which means your monthly repayments will decrease too.