Need 40K over 10 years ish...

fitorbust

We are extending our house and need 40k over 10 years really.
We can extend the mortgage easily, but I wondered if there was another way to do it.
We earn enough and have a good credit history. Plus I have just cleared 10K of credit cards ;o) by selling a business, so not a lot on our plate at the moment.
I know mortgaging is probably the best option but thought that the wealth of knowledge on these boards may tell me otherwise.
Thanks
Lesley

Rafter

Mortgaging is gonig to be your best bet. Difficult to beat mortgage rates on any other type of loan.

If you are happy switching mortage provider every few years then a discounted rate is probably the cheapest opion.

You could go for an offset mortgage and then you can pay stuff off as and when you can afford it. You could also use zero % credit card offers to balance transfer against your mortgage debt and reduce your interest bill. This will require loads of discipline though.

Good luck.

R.