unsecured loan / mortgage?

tux130582

Hello,

I am wanting to buy a house in the next few years (hopefully when they stop dropping in price) if the interest rates drop to the speculated 1-2% would it be to my advantage to borrow a massive amount of money as a sort of pre mortgage? as the rates are low or is there anyway i can get a mortgage without actually buying?

i would not spend any of the money and already have a 50k deposit, i just wondered if there is any way i might be able to take advantage of any rate cuts.

thanks

_Andy_

Unfortunately not - mortgage rates are lower than unsecured borrowing as they have the house/property as security.

fatbelly

Sit tight - I suspect you're going to be in a very strong position in a couple of years.