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Home buying advice
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clmjlt01
Posts: 1 Newbie
Hope someone can advise as to our situation.
We have sold our house and have seen somewhere we like. We only want to take out 75% LTV mortgage and this is probably all we could get as it equates to our max mortgage borrowing.
The problem is that we have equity in our current house and £50k in a fixed income savings bond which cannot be accessed for 9 months.
As such we are £50k short of the deposit but have the money (although not accessible). I have looked into bridging loans but these cannot be effected until after completion on the property as we will have sold our current house.
Is there a sensible way round this - unsecured loans perhaps? What are our chances of getting these? We have a great credit rating so do not want to blemish it by shopping around for credit and maybe affect our chances of getting the mortgage we need.
Any suggestions gratefully received.
Many Thanks
We have sold our house and have seen somewhere we like. We only want to take out 75% LTV mortgage and this is probably all we could get as it equates to our max mortgage borrowing.
The problem is that we have equity in our current house and £50k in a fixed income savings bond which cannot be accessed for 9 months.
As such we are £50k short of the deposit but have the money (although not accessible). I have looked into bridging loans but these cannot be effected until after completion on the property as we will have sold our current house.
Is there a sensible way round this - unsecured loans perhaps? What are our chances of getting these? We have a great credit rating so do not want to blemish it by shopping around for credit and maybe affect our chances of getting the mortgage we need.
Any suggestions gratefully received.
Many Thanks
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