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Mortgage Dilema?

holly876dog
holly876dog Posts: 46 Forumite
in Mortgages & endowments
My relations are moving house and need around 10K, they currently don't have a mortgage. I presume they won't get a mortgage for this small amount? What are the options open to them? Has anyone else been in this situation? I suggested perhaps looking into a loan.
Many Thanks.
xx
Be not so busy making a living that you forget to make a life......

Comments

  • toonfish
    toonfish Posts: 1,260 Forumite
    they could get a mortgage but a personal loan will probably be just as cheap by the time they pay valuation fees etc.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.



  • BeerBelly
    BeerBelly Posts: 325 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Post office loan.

    Low rate and you can overpay and clear at anytime with no fees!

    Just an idea/my opinion.

    Saying that, someone we know came into money, but advised to take mortgage for say 20k to get a credit rating/history.
This discussion has been closed.
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