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money for property developing
geoff1057
Posts: 198 Forumite
hi have been offered a house that is ideal for refurb etc, to then sell on when completed . work would probably take 6-8 months . are there banks etc, that loan the money ( circa 70k ,as a mortgage or loan)on short term basis, just for developing,as i would need money for only 12 months max, 
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bound to be youll pay an arrangement fee and have to get one with no tie in period but should be possible. if i understand it the ing direct has no tie and is currently below the base rate.0
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And they might want to see your "business plan" tooAnnual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0
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there are quite a few that lend on the purchase price plus on development costs. others lend on the final price.
might be an idea to speak to a fee free mortgage broker on that board."enough is a feast"...old Buddist proverb0 -
Hi,
Assuming that you are already a homeowner you could get a 'Home improvement loan' on the existing property and this is likely to be a better bet.
If not, there are several schemes that you might want to consider but many are dependant on your income.
A self-Cert mortgage might be suitable."Unhappiness is not knowing what we want, and killing ourselves to get it."Post Count: 4,111 Thanked 3,111 Times in 1,111 Posts (Actual figures as they once were))Women and cats will do as they please, and men and dogs should relax and get used to the idea.0
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