PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Reema Hollow Panel House Buying

bonnieandmurphy
bonnieandmurphy Posts: 1 Newbie
in House buying, renting & selling
I need help!!!!!
I am trying to buy a Reema Hollow Panel House built in 1956 - it is valued at £75000.00 and i need to lend £40,000.00
I have tried numerous banks and building society and cannot find anybody to willing to loan on a prefab house.

Does anyone know of any lenders :(

Comments

  • timmyt
    timmyt Posts: 1,628 Forumite
    speak to a mortgage financial adviser (IFA - never use anyone else giving mortage advice)
    My posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.:cool2:

    My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    There are probably a couple of places that'd agree to it, as your LTV's so small. Else, take out a personal loan.

    Those things are normally cash buyers only because of the mortgageability problems.
  • tommie1shunt
    tommie1shunt Posts: 341 Forumite
    edited 3 June 2011 at 10:13AM
    We are have PRC house under offer at the moment, was told Halifax building society are your best bet.
  • chris_m
    chris_m Posts: 8,250 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Why do you need to lend £40K, and to whom, if you are buying the house?
  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    chris_m wrote: »
    Why do you need to lend £40K, and to whom, if you are buying the house?

    Because the OP doesn't have £75,000 in savings to buy the property, so has to raise some funds by borrowing money secured on the said property.
    "You were only supposed to blow the bl**dy doors off!!"
  • mundibananas
    mundibananas Posts: 85 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    I think chris_m was being facetious - bonnie needs to 'borrow' not 'lend'
  • tommie1shunt
    tommie1shunt Posts: 341 Forumite
    Oh funny........how.......................clever
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.1K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture