Should I get a mortgage or a loan?

Debster3004

Hi guys


Currently trying to purchase a new flat. It needs a bit of work mainly boiler, some internal walls etc. My question is should I use all my cash to purchase the flat and then try and get a loan for the works that need doing or get a very small mortgage so that I have the spare cash to do the improvements?


All thoughts gratefully received.


Thanks

getmore4less

IF you mortgage the property then you know you have the cash(get much more than you think you need).

IF you buy and then can't get a loan you are stuffed.

Any loan you do get is likely to be more than the mortgage rate anyway.

once the work is complete you can overpay the excess money.

if you are small mortgage <60% LTV you wil be looking at 2y rates well under 2%, what's the best loan rate you have seen?