Need to £78,000 for 10 days - from where?

GraceK1536

So my mother-in-law is buying a flat from savings and we are due to Complete on 17th July.  I requested the withdrawal from S&S ISAs on 4th July but the Aegon are now saying they can't promise the money by 17th, only that it'll be in her account by 24th July.  We've tried in branch at HSBC where she's banked for the last 6 decades and they say they don't provide loans or overdrafts for those sort of sums and are only interested if she wants a mortgage.  I don't wish to be paying 4% per day on a break of contract loan.  Suggestions please of where to get the money?  Thanks

Yorkshire_lass

I have a recollection of something called a 'bridge loan' but this is a long time ago and I don't know if they still exist. 

davidmcn

GraceK1536 said:

I don't wish to be paying 4% per day on a break of contract loan.

If you mean the penalty rate in the purchase contract, that's more likely to be 4% per annum above base lending rate, not 4% per day. It will be far cheaper than a bridging loan and probably the best option (assuming she can cope with the delay in moving in). I presume she's exchanged contracts?

amnblog

Bridging loan too expensive here

ACG

A bridging loan, it will probably end up costing you about £3-4k though.