Need to borrow 30K fast

Donnie_Darko

Hi All

I am buying a property for cash but also need to borrow 30K on top for various other things.

Does anyone have an idea what's the cheapest way of doing this at the moment ?

Example, the property is 100K, for round figures, and I have 100K so do I try and get a 130K mortgage or buy the house outright and get 30K loan somewhere else ? Or buy the house and immediately remortgage ? I can pay 1K a month repayments.

Time is short so any replies greatly appreciated !

Many thanks

stephane_2

I am not an expert in the field but personally I would take out mortgage £130K then invest the £100K cash in savings,bonds...etc and use the interest earned to pay off mortgage early.

CLAPTON

not enough details

but if the house is only worth 100k there is zero chance anyone will lend you 130k
without knowing your income etc its unlikely anyone one will lend you 30k unsecured

best to look for a 30k mortgage although you will need to pay fees etc.

Comyface

What CLAPTON said.

£30k mortgage is the way I'd go as well.

iolanthe07

Unsecured personal loans are normally limited to £25K.