Need a short term loan while house is for sale

zelig

Hi just a bit of advice if anyone can help:
I have recently put my house on the market for sale and moved into a rented accomodation - what options are there available for me to obtain a short term loan against the house until its sold.

Unfortunately due to an illnes I am now on benefits


Many thanks



Zelig

[Deleted User]

With a low income, it's very unlikely anyone will lend to you.

jonesMUFCforever

Do you have a mortgage? A bank account? Any credit cards with a nil balance?
Is there any equity in the house being sold?

Why move now if house not sold?

Sorry for all the questions but your answers will give us a better insight of how to help you.

zelig

jonesMUFCforever wrote: »

Do you have a mortgage? A bank account? Any credit cards with a nil balance?
Is there any equity in the house being sold?

Why move now if house not sold?

Sorry for all the questions but your answers will give us a better insight of how to help you.

Thanks for the reply

The house has no mortgage as it was left in to me in my mothers will - so I wanted to put it up for sale as its far too big for me to manage and too many memories - so I rented a very small bungalow - I can keep paying the rent and utilities for another 3 or 4 months but if its not sold then I have no income apart from ESA !


I should say I do have a bank account but my 1 credit card is nearly maxed out !

jonesMUFCforever

I can't help thinking that you have made a big mistake in moving out - you can't afford the rent now - will you get any benefit to pay rent in future or will you be using the proceeds of the sale?
If it was me I would move back in until house is sold.

zelig

jonesMUFCforever wrote: »

I can't help thinking that you have made a big mistake in moving out - you can't afford the rent now - will you get any benefit to pay rent in future or will you be using the proceeds of the sale?
If it was me I would move back in until house is sold.

The house is empty so moving back in is not an option - I am just trying to find out what options I have (with the exception of We Buy Any House etc) I had to move as with such a big house utilities/council tax etc where eating into my small savings - I didnt want to stay there as previously mentioned - too many bad memories (I was a sole carer for 3 years ) so decided on a smaller place - miles away from my original area - so not sure what my options are now ?

BrassicWoman

you could well be months selling

whack it into auction?

calleyw

Are you on income related benefits? If so you need to let them know you have moved out. As don't believe you will get help or reduction on your council tax in both properties.



Normally the DWP will disregard the value of the house for a certain length of time while selling and once you sell then anything between £6K-£16K will mean reduction in means tested benefit and above that you will no longer get them.


For more details info pop over to the benefit board and pop up a post.


Yours


Calley x

zelig

calleyw wrote: »

Are you on income related benefits? If so you need to let them know you have moved out. As don't believe you will get help or reduction on your council tax in both properties.



Normally the DWP will disregard the value of the house for a certain length of time while selling and once you sell then anything between £6K-£16K will mean reduction in means tested benefit and above that you will no longer get them.


For more details info pop over to the benefit board and pop up a post.


Yours


Calley x

Thanks - I dont really want benefits and when the house is sold £200,000 Im happy to tel them to stuff it as I only have a few yeras to go before a good pension kicks in - iI just need something to tie me over for a few months ! :-)

Herzlos

Can you rent out the house, and use that money to pay for the bungalow + some extra?

TonyMMM

If you want a quick sale, lower the price or put it into auction.