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  • FIRST POST
    • Motivator
    • By Motivator 6th Sep 17, 3:33 PM
    • 11Posts
    • 1Thanks
    Motivator
    Short term mortgage.
    • #1
    • 6th Sep 17, 3:33 PM
    Short term mortgage. 6th Sep 17 at 3:33 PM
    Hi
    I wonder if anyone has any advice on this . We inherited a large
    sum of money from my father , which we want to buy a house with.
    We plan to buy a place with a annex for my mother inlaw . Which basically means we will need to borrow around 150k in the short
    term until she sells her property . Which is the best way to borrow
    the money without getting stung for a lot of interest as we have been
    told by one bank you have to have the mortgage for five yours before
    you can pay it off.

    Many thanks in advance.
Page 1
    • lspell1
    • By lspell1 6th Sep 17, 3:53 PM
    • 20 Posts
    • 10 Thanks
    lspell1
    • #2
    • 6th Sep 17, 3:53 PM
    • #2
    • 6th Sep 17, 3:53 PM
    Depends how short term...if less than a year then Bridging may be the best option.

    Speak to an Advisor though, don't try and tackle it yourself.
    • Motivator
    • By Motivator 6th Sep 17, 4:21 PM
    • 11 Posts
    • 1 Thanks
    Motivator
    • #3
    • 6th Sep 17, 4:21 PM
    • #3
    • 6th Sep 17, 4:21 PM
    Thanks for the advice . It did cross my mind a bridging loan.
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