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Best way to loan final £30 to be mortgage free

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
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PaulinusPaulinus Forumite
6 Posts
edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
Dear Brainiacs

I now have been taking advice from MSE for 9 years now and have been overpaying my mortgage by double. So have done really well. 25 year mortgage nearly paid off in 10 years..ish. I am now beginning the next phase and need some help please..
Times change and my partner and I are now selling the house and starting a LAT relationship (Living apart together) in nearby cities. So we are selling up and splitting the money from the house. Thats the story... so here is my question...

I estimate I will get around £90K as my split from the house.
However to buy a decent apartment in my city will cost £120-125K so I have a £30K shortfall.
I should have an excellent credit rating as I have no other debt and have been a goody two shoes with my mortgage.

Ideally I want to be a cash buyer and thus mortgage free and can definitely afford to pay back within 3 .. or even 2.5 years from my salary (I have already been paying £1350/month as part of my mortgage overpayments for 7 years)

Q. how could/should I raise a loan for £30K?

I mentioned this to one bank on the phone and the guy immediately said I cannot use a loan for a house purchase... is this a law of some kind?

Sainsburys look good but will still cost about £3.5K for a 3 year £30K loan

Can I take 2 x £15K lor 1 x £30K loan out?

What do I say I need the money for when they ask?
(
I could always buy a £30K car!)

How do I go about this exactly & what is the best way to manage this?

Many thanks in advance. P.

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