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Loan versus mortgage
Hi,
We are looking to buy a propoerty. We have enough savings to buy the property outright (just). but will need to borrow in order to do some home improvements, eg extensions etc. Im not sure the best/cheapest way to borrow money. Should i take out a small mortgage (as rates are lower?) or take a loan eg unsecured out as and when we need it. We plan to do the work fairly soon after buying it. Any hadvice appreciated!
thanks
We are looking to buy a propoerty. We have enough savings to buy the property outright (just). but will need to borrow in order to do some home improvements, eg extensions etc. Im not sure the best/cheapest way to borrow money. Should i take out a small mortgage (as rates are lower?) or take a loan eg unsecured out as and when we need it. We plan to do the work fairly soon after buying it. Any hadvice appreciated!
thanks
0
Comments
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Mortgage will be lower rates as the borrowing is secured.0
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