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Best loan advice
I own my own little house worth about 105k with no mortgage or anything on it, but would like to move to a bungalow valued at 130k, so I would need a mortgage/loan of 25k, which would be the best way of borrowing this amount? I'm 64 I might add.....or would this not be possible?
Thanks
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Comments
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Sounds like you need mortgage for 25k (mortage is just a loan secured against the house, nothing else is special about it) so the question really is of your credit history and income, whether you can afford to borrow the 25k and repay it. Given your age it would have to be a short-term lending.0
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With the age problem you might be best talking to a "whole of market" broker.0
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You will find that you will probably need closer to £30,000, when you take into account Estate Agent, legal and broker fees, plus the moving costs.
Good lucks0
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