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help with borrowing money for buying abroad
chrisk_2-2
Posts: 2 Newbie
My husband and I have just bought an off plan apartment in Turkey - £89,500. I own my own house outright - value approx £130,000. We are making the first payment of £30,000 out of our savings at the end of the month but need to borrow £56,000 payable in instalments starting in December and finishing in July when the property is built. I also have an endowment maturing December 2009 worth about 20,000. We are not planning to move out yet due to commitments. We both work. What would be the best route to take to borrow the money? All ideas gratefully received.
Thanks chris
Thanks chris
0
Comments
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Assuming you fit a lender's criteria I would suggest re-mortgaging against your unencumbered property to raise the funds would be the quickest and easiest way of raising the fundsI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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