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mortgage dilema
newtoncott
Posts: 4 Newbie
We are currently fortunate enough to be mortgage free but find ourselves wanting to help parents buy a new property. We need around £20k to do this but for no more than two years as we have an interest in another property which will be sold during this time and will no longer need the loan. What's our best move? We obviously want to avoid large start up fees and high early repayment charges. I'm assuming we would borrow this against our property as the one they are buying will be in our parents names with us holding approx 10% interest.
0
Comments
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Unsecured loans(personal) loans can be appiled for under 25k...as long as you fit criteria0
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Have a look at first direct offset mortgages
Low fees and when you sell the other property you could then put the money into the offset account ( pay no interest )until you want to pay off the mortgage0
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