A bit of mortgage advice needed..

Dunree

kingstreet wrote: »

No. If it's secured on the property she is joint owner of, you can't take a mortgage without her.

A £50k unsecured loan? I doubt it.

Ah well.

Will have a chat with her soon and get it sorted out.

Thank you very much for your time and answers guys :beer:

dimbo61

Consider carefully the work you are doing on the house in London.
£270K is always a difficult figure as many buyers will only offer £250K in the hope of not paying 3% STAMP DUTY.#Now if you go for a higher spec or extend you may get a whole lot more !!!!
So try and look at your target market ( BUYER) and what they would want ie downstairs toilet, en-suite, garden, etc

Dunree

dimbo61 wrote: »

Consider carefully the work you are doing on the house in London.
£270K is always a difficult figure as many buyers will only offer £250K in the hope of not paying 3% STAMP DUTY.#Now if you go for a higher spec or extend you may get a whole lot more !!!!
So try and look at your target market ( BUYER) and what they would want ie downstairs toilet, en-suite, garden, etc

Hi Dimbo,

Thanks for that

Tbh, the house needs a lot of work. There is no GCH in the place, and it does get very cold in the winter.

It also looks dated, as it was two pensioners who lived there before us, Mrs D's mum and dad.

We're bringing it back up to a saleable standard that people would expect now. We aren't going daft, just enough to make it look good modernish.

We had the estate agents in to give us a ''before and after'' quote.

All mentioned the £250k figure, but all also mentioned that we would get in excess of £270k if we done the work, so we worked out what we could afford, and decided that we could do it.

The excess made is going to her sister as a gift, and we'll use the remainder for our new place, plus a bit of a mortgage for me, all going well