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Paying off lift scheme
China2303
Posts: 14 Forumite
Hi everyone. I have the lift scheme they own 40% which was around £45k in 2014. Now my house value has gone up but I have 20k saved and just got a loan of 20k as well.
Whats everyone opinion of paying this off, or the best way to do it? On the loan i will be paying 5k in interest over 6 years.
Thanks for any advice ir help
0
Comments
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Why have you got a £20K loan without first finding out how much they value the property ? Say they want £60K or £70K ?
First thing to do is contact the company that owns the 40% and go from there.
You might need a mortgage0 -
This is what Im thinking but Im not sure how it works. My mortgage due for renewal in April. So can I take out a bigger mortgage to pay some of that off?dimbo61 said:Why have you got a £20K loan without first finding out how much they value the property ? Say they want £60K or £70K ?
First thing to do is contact the company that owns the 40% and go from there.
You might need a mortgage0
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