We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage for retired
ATHERTON_2
Posts: 8 Forumite
I am 63yrs.old and retired with a net income of £14000/year,i own a house worth £150/160000 outright and i have £120000 cash.
I want to raise £80000 to buy a house costing £200000,i intend to rent own house for a few years at £600/month.REASON i need to move fast or miss the house.
Any advise please have been turned down by First Direct.I have a good credit record and no debts .BUY TO LET on my own house?
thanks.
"Proud to have been shoulder to shoulder with Arthur"
I want to raise £80000 to buy a house costing £200000,i intend to rent own house for a few years at £600/month.REASON i need to move fast or miss the house.
Any advise please have been turned down by First Direct.I have a good credit record and no debts .BUY TO LET on my own house?
thanks.
"Proud to have been shoulder to shoulder with Arthur"
0
Comments
-
Try a whole of market broker for "let to buy"...?0
-
You could raise the capital as a remortgage on your own home but the new lender would have to agree to you letting it out.Offer accepted - 4th July
Own sale completed - 5th September
Finally exchanged - 30th October :j:T:j
Completing on Friday 13th! :rotfl:0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.7K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.8K Work, Benefits & Business
- 603.2K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards