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brigding loan or second mortgage help
Erno
Posts: 9 Forumite
the story is - put £25k deposit down on a new build house which is ready in november, new build house costing £250k, put our house on the market in april at £225k now reduced it to £210k in july and still no takers, problem is if we have still not sold we are in the tom tit and need a bridging loan to cover while we complete on new house. might be able to get help from the old man as a guarantee on a bridging loan or would it be better if he bought our house off us and he took a mortgage out on it? getting stressful and would be grateful of advice. what about these adverts you see in paper about cash buyers for your property any body had experience of these?
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