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Borrow 20k for a flat
Vicka7
Posts: 3 Newbie
Hi all.
I need an advise. What option the best here?
I want to buy a flat price range around 40k.
And now i have 20k in bank account. So what the best option to borrow remaining 20k to cover full price. Or just go trough mortgage process? If so how much it would cost. Glasgow. Thanks for any advice
I need an advise. What option the best here?
I want to buy a flat price range around 40k.
And now i have 20k in bank account. So what the best option to borrow remaining 20k to cover full price. Or just go trough mortgage process? If so how much it would cost. Glasgow. Thanks for any advice
0
Comments
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Easier and quicker to get a personal loan. Just try one of the comparison sites for figures0
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I didn't think it was possible to get a mortgage for 20k or to use a personal loan for a property purchase.0
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If you do a search on RightMove, there is nothing within a 10 mile radius of Glasgow at that price: the cheapest flat is £49,995. So the OP may need to review their budget...No free lunch, and no free laptop
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40K Flat! Does that still exist anywhere other than the £1 houses in Liverpool!!
Save 12K in 2020 # 38 £0/£20,0000 -
There are about 40 flats under 40k in Glasgow on s1homes.com.0
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Mortgages will almost always have cheaper interest rates than a personal loan so doesn't really make sense to take out a costlier loan instead of one (especially if you can get a fee free one) don't forget to allow for other costs too. Legal fees will be anywhere from £500-£1500, moving costs, any imediate work needing to be done and buying any furniture you don't already have. Best to use £15,000 as the deposit and use the rest for the extras and the start of an emergency fund.0
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If it is that cheap, make sure there are no large maintenance/repair bills looming...0
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If you do a search on RightMove, there is nothing within a 10 mile radius of Glasgow at that price: the cheapest flat is £49,995. So the OP may need to review their budget...
http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E550&maxPrice=50000&sortType=1&propertyTypes=flat&primaryDisplayPropertyType=flats&dontShow=newHome%2CsharedOwnership0 -
Link doesn't work.0
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