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Help - Need cash for house quick!
ChuckleVision_2
Posts: 344 Forumite
Hi
We are selling our house (with out an estate agent - StampDutyFree.com) and have found a house we want to buy. There is already an offer on the table (a little lower than our offer) that is proceedable, so they want to go with the lower offer. If we became proccedable or found the cash it would be a different story and we'd get the house we want.
How can I get my hands on the money while we are waiting to sell out house?
My current mortgage (thanks to this forum) is a bargain (currently at 0.59% over the baserate) so we can easily afford to pay another mortgage for a few months while we sell ours current house.
I need £100k plus quick! Help!
We are selling our house (with out an estate agent - StampDutyFree.com) and have found a house we want to buy. There is already an offer on the table (a little lower than our offer) that is proceedable, so they want to go with the lower offer. If we became proccedable or found the cash it would be a different story and we'd get the house we want.
How can I get my hands on the money while we are waiting to sell out house?
My current mortgage (thanks to this forum) is a bargain (currently at 0.59% over the baserate) so we can easily afford to pay another mortgage for a few months while we sell ours current house.
I need £100k plus quick! Help!
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Comments
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Have you been to see a mortgage broker? Also sorry I know it's completely unrelated and I'm not trying to be nasty, but who writes the descriptions on that site? They made me smile!
Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.0 -
Try speaking to your mortgage company if you have enough equity and your income multiples are ok, you may be able to put it on the mortgage, if the repayments are comfortable enough.
Or could you change your mortage to a BTL and rent it out, and get another mortgage?
Failing that you could bridge.
All of the above obviously have their risks.Pawpurrs x
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Haven't spoken to mortgage broker yet. Unsure how it would work as we would want to port our current mortgage to the new property once we sell our house.
Re description - which bit is funny? :rotfl:0 -
With First Direct, who do not do bridging loans or buy-to-let. Its a tricky one... and agree it is a risk.... I want that house though!0
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It's not that it's intentionally hilarious, it's just that for years people have complained about EAs using flowery language, it's been the butt of many a joke! The descriptions are just quite...can't find the right word...gently amusing!Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.0
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If you're porting they might let you add the new property on, not sure but don't see why it would make a difference to them if you can afford it. Bet they won't let you pay a lump sum off once you sell your house though-not without a hefty fee.Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.0
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Incidently How are you finding it without an Estate agent, how do people find your site? Other than the free plug on here?Pawpurrs x0
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I would have though the easiest (and possibly only) way is to get your own house sold quickly - have you thought about putting it up for auction ?0
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Your bridging loan does not need to be with your mortgage company.Pawpurrs x0
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Am I missing something, or is there only ONE property for sale on www.stampdutyfree.com ....?0
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