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Loan for stamp duty
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Whatever you do, don't take out a bank loan to pay the stamp duty between exchange and completion, in case the mortgage lender decides to pull the offer due to a change in your credit record...
Yeah, that's what I'm afraid of. I think I'd rather do it before DIP or not til after completion...Just don't know if doing it before DIP is a bit risky. Shouldn't be really, we've good credit and plenty of affordability.0 -
Go talk to an independant broker as they will know which if your options would concern mortgage lenders the least.Don't listen to me, I'm no expert!0
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Idiophreak wrote: »Yeah, that's what I'm afraid of. I think I'd rather do it before DIP or not til after completion...Just don't know if doing it before DIP is a bit risky. Shouldn't be really, we've good credit and plenty of affordability.
If the loan is definitely to pay the stamp duty, you won't be able to apply for it after completion because you're also getting a mortgage and your solicitor will be required by the lender to be in possession of all funds - including SD - before completion.0 -
If the loan is definitely to pay the stamp duty, you won't be able to apply for it after completion because you're also getting a mortgage and your solicitor will be required by the lender to be in possession of all funds - including SD - before completion.
Yeah, sorry. I meant that we'd take a loan to repay my parents after completion...One way or another we'll need all the money with the solicitor by completion.0
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