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Cost of a £150k bank loan for 1 year

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Comments

  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    edited 2 April 2018 at 10:11AM
    .. and the physical and legal mess of a half completed house owned by someone else on your land.
  • collectors
    collectors Posts: 239 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    edited 2 April 2018 at 2:51PM
    Hi, thanks for the input, but i can see some have not read the posts in that the builder would have no ownership of the land at any time. But this also distracts on the question of simply how much a loan might be over a year for £150K. Possibly via a second mortgage. The problem is that there is so many deals that look good, but wouldn't be sure they are as none are for short term.
    I am not sure as a possibility to take a loan out over a longer period & pay it of early with some penalty's as this would keep the monthly payments down.
    Please note that this loan is just to get an idea on cost.
    But it seems that £7 to £10k sounds about right.
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