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Advice on suitable loans.
Hi MSE forum members,
Can anyone advise me about a loan?
Like a lot of people my age , early 70s, I'm asset rich and cash poor. I want to raise £20,000 for updating a 2nd property I own before I sell it. The money will be repaid in full on sale of the property in about 3 years time.
I've had advice about later life mortgages but because of my income have been told I'm not eligible.
Are there any interest only loans with a low rate of interest that would be suitable for me? I've got a good credit record and don't owe anything. Any information would be appreciated, thanks JD
Can anyone advise me about a loan?
Like a lot of people my age , early 70s, I'm asset rich and cash poor. I want to raise £20,000 for updating a 2nd property I own before I sell it. The money will be repaid in full on sale of the property in about 3 years time.
I've had advice about later life mortgages but because of my income have been told I'm not eligible.
Are there any interest only loans with a low rate of interest that would be suitable for me? I've got a good credit record and don't owe anything. Any information would be appreciated, thanks JD
0
Comments
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You won't get an interest only loan. Interest only mortgages are possible, but mostly only available for BTL.
What is your income? Can you borrow smaller amounts through personal loans or credit card use and break up the work?1
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