Funding gap on building project.

Gypsysmum

We are building a retirement bungalow. We borrowed from a relative to tide us over until our house sells. You are probably ahead of me here. The house, though sold, is taking its time and, of course, it could all fall through! We are close to completing the build with things like the drains to finish off, the kitchen to go in, the internal doors to buy etc. We have no mortgage on the existing house but have a low (pension) income. This makes bank borrowing difficult due to the repayments required. We are wondering about 0% credit cards to fund the rest of the build? Never had one but we do have a couple of ordinary credit cards. No other debts. Is it a risk that the house sale could fall through and that it could happen again? Should we just sit tight, stop the build and wait for the house to sell and then start again? My relative will be getting itchy but there is nothing I can do about that until the house sells. Would love to finish before the winter sets in!

MattMattMattUK

If I were you, in the position you are now in, I would stop spending money until you have exchanged contracts, then you know the sale is proceeding.