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remortage help
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Alison_B_3
Posts: 1 Newbie
I own a terrace house worth approx 100k. I have 20k left to pay and a 4k home improvement loan - combined mortgage remaining of 24k.
My husband's name is not on the mortgage. We left him off so he could be a first time buyer on our next home.
Now we have found our dream place, a private sale, and old wreck for £140k. We have to move quick before its put on the open market in the next week or so.
What is the best way to raise £140k plus we need about 40k to do it up.
I can re-mortgage and get £68k (44k plus the 24k i owe them) of remortgage. (i only work 3 days)
Would i be better getting this as interest only for a year ? until the terrace sells for 100k, then pay it back when it sells. We would want to sell ASAP but the market is not so good.
My husband, although he brings over £2,000 cash a month home, only earns £22k, as he gets paid travel time and expenses and they wont allow that for his mortgage. He could probaby get a mortgage for about 90k.
is the best plan to do this ? i am about to get a decision in principal on a remortgage.
My husband's name is not on the mortgage. We left him off so he could be a first time buyer on our next home.
Now we have found our dream place, a private sale, and old wreck for £140k. We have to move quick before its put on the open market in the next week or so.
What is the best way to raise £140k plus we need about 40k to do it up.
I can re-mortgage and get £68k (44k plus the 24k i owe them) of remortgage. (i only work 3 days)
Would i be better getting this as interest only for a year ? until the terrace sells for 100k, then pay it back when it sells. We would want to sell ASAP but the market is not so good.
My husband, although he brings over £2,000 cash a month home, only earns £22k, as he gets paid travel time and expenses and they wont allow that for his mortgage. He could probaby get a mortgage for about 90k.
is the best plan to do this ? i am about to get a decision in principal on a remortgage.
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