Advice, please

maureen1038

I am a 63 year old childless widow living in rented accommodation (rent = £650 pcm). I am a total ignoramus as far as mortgages, loans and borrowing money are concerned.

I have made a provisional offer of £125,000 to buy a terraced house, subject to a structural survey which will be carried out next week.

I have £88,000 in easily-accessible savings.

My income is £1,050 pcm (state pension and other small pensions).

I also have £70,000 in a 2-year bond which matures in August 2011, the interest on which I receive monthly (£167 pcm, in addition to my pension income).

I am short of approximately £40,000 of readily-available cash to buy the little house I have fallen in love with. I had wrongly assumed that there must be some way to release the funds in the bond before the maturity date; but the lady in the Britannia BS told me today that this is not possible, unless I am seriously ill, or worse.

What would be the best way for me to borrow £40K for eight months, or so?

Or should I delay my belated foray into home-ownership for a few more months?

Any advice will be most gratefully received.