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Sell 2nd home or Credit Card for extension
Comments
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So perhaps a mix of a loan with a bit of credit card as backup, get the work done then consolidate it into mortgage once it’s up for renewal in 12 months & get it revalued into a new mortgage payment to clear the loan / credit card etc0
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So perhaps a mix of a loan with a bit of credit card as backup, get the work done then consolidate it into mortgage once it’s up for renewal in 12 months & get it revalued into a new mortgage payment to clear the loan / credit card etc
Try and factor a disaster scenario of tenant unable to pay rent for 6 months, maybe something not going well with the extension so it costs more or even one of you losing your job in to the planning as well. Stretching the limits can get people into trouble that snow balls really quickly.When using the housing forum please use the sticky threads for valuable information.0 -
Thanks yes I have some reserves in my business to cover losses like that.
Having been to my accountants it looks like another option as we are remortgaging is to change from 85% to 90% LTV on the new mortgage offer, which opens up a significant pot to complete the works to estimated budget instead of a personal loan.0
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