Fian

sunil237

Finance Options?

I am looking into finanacing options for buying a house.
Mortgage, buying in cash, personal loans..

Are there any other ways of raising money to finance buying a house?

Thrugelmir

In principle cash or loan are the alternatives.

A mortgage is a loan in name.

Yorkie1

One thing lenders are not generally happy about is if you try to raise the money by a combination of all 3, or just a combination of mortgage and separate personal loan.

So if you are getting a mortgage, you will need to rule out a separate loan e.g. for the deposit. You will need to raise the deposit in cash (unless it's a part-exchange or purchase from family, etc).

Edit: Just seen your post in House Buying:
https://forums.moneysavingexpert.com/discussion/4750371

Proposal to buy an auction lot which contains 3 houses is NOT straightforward. You will need 10% (I think) of the purchase price available immediately the hammer comes down and are legally committed to the purchase at that point. It's not like buying houses through an EA.

Are these properties being sold as a single lot? Are they actually 3 completely separate residences, or one main building with sub-outbuildings?

I guess that from your questions you have not previously bought a home? I also assume that if they are 3 separate residences, you are not planning to live in all 3 of them at the same time? In which case I think you will only have max 1 residential mortgage and the others would have to be BTL. (Or, depending on the state of the properties, they may be unmortgageable anyway).

Definitely a job for a broker.