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Has anyone ever bought a house on a personal loan then re-mortgaged it?

leestafford
leestafford Posts: 63 Forumite
Tenth Anniversary 10 Posts Name Dropper Combo Breaker
edited 15 November 2016 at 4:55PM in House buying, renting & selling
Yyyyyyyyyyyyyy
«13

Comments

  • casper_g
    casper_g Posts: 1,110 Forumite
    If you don't qualify for a mortgage, I don't see how you would be able to re-mortgage. AFAIK the bank will assess your income, credit worthiness etc. in the same way whether you already have the house or not.
  • leestafford
    leestafford Posts: 63 Forumite
    Tenth Anniversary 10 Posts Name Dropper Combo Breaker
    edited 15 November 2016 at 4:56PM
    Aaaaaaaaaaaadghygv
  • Argghhh
    Argghhh Posts: 352 Forumite
    the question is why can't you get a mortgage - but can get a loan?
  • leestafford
    leestafford Posts: 63 Forumite
    Tenth Anniversary 10 Posts Name Dropper Combo Breaker
    edited 13 November 2016 at 5:43PM
    Jhfaryvdfghgdrrgj
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Can you get £25K limit on 0% credit cards..........? Cheapest loan possible.

    Until the 0% period runs out of course......
  • Argghhh
    Argghhh Posts: 352 Forumite
    could balance transfer after each period, 25k is a very high balance - i thought mine was generous at 7500
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Argghhh wrote: »
    could balance transfer after each period, 25k is a very high balance - i thought mine was generous at 7500
    I once bought a house for £78K on four 0% credit cards.

    But that was back in the good old days of course.....
  • carefullycautious
    carefullycautious Posts: 2,464 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Are you sure the 25,000 is the full amount or part of a shared ownership?


    Cant believe you can buy a flat outright for that amount. Is the lease very low?
  • Errata
    Errata Posts: 38,230 Forumite
    10,000 Posts Combo Breaker
    You can't RE mortgage if you don't have a mortgage in the first place
    .................:)....I'm smiling because I have no idea what's going on ...:)
  • kingstreet
    kingstreet Posts: 39,340 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Errata wrote: »
    You can't RE mortgage if you don't have a mortgage in the first place
    Remortgage of an unencumbered property?
    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.
This discussion has been closed.
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