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small mortgage

I am wanting a small mortgage of around ten to twenty thousand over 10 years alot of companys wont let you borrow such a small amount where can I get one otherwise thankyou

Comments

  • Zero_Sum
    Zero_Sum Posts: 1,567 Forumite
    I thought £15k was about the lower limit. However you could just get a bigger one that doesn't have early payment charges, then just pay back the amount you don't need
  • kingstreet
    kingstreet Posts: 39,352 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Plenty of building societies have small minimum loans, £5k for instance - for a purchase.

    If this is a remortgage of an unencumbered property, you'll struggle as lenders often try to avoid falling into the jurisdiction of the Consumer Credit Act. That means you have to borrow £25k plus £1. If you do this, take a penalty-free product and repay the money you don't need on completion day.
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
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