Reposession - mortgage vs bridging loan

Thrugelmir

humanbean wrote: »

We have a completion date of 31 August and now need to find £160,000

Sell, release the equity and live in a caravan until the work is complete.

Here's one option to try with regards to finance.

http://www.buildstore.co.uk/finance/

Jimbo1976

It might be worth speaking to build store but i think bridging is your only option. Sadly i think you will need to run your bridging loan for 6 months or so if you want to pay it off through remortgaging. If you are paying it off through disposal of the land/other means then you can pay it off as quickly as you like.

Most mainstream lenders are not prepared to allow a remortgage until you've owned the property for 6 months or so.

Speak to a broker, they will be able to find you the most suitable bridging loan and also help you line up a remortgage if you need one