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onesixfive
onesixfive Posts: 498 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
edited 26 April 2022 at 11:37AM in Loans
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  • Grumpy_chap
    Grumpy_chap Posts: 18,148 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Does the house you are buying have to be a cash purchase?
    I mean it is not a cash purchase in any case since you need finance to acquire it.  In which, case, can you obtain a more regular secured loan (mortgage) to acquire the property?  
    Who did you approach for the finance?  A Broker may be able to provide more options.
  • Herzlos
    Herzlos Posts: 15,757 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    How much are your car(s) worth? Car prices are a bit crazy right now, so assuming you have one each, selling the more expensive one now and replacing it when yours sold would work.

    Or you can see if you've got anything else you can sell fairly quickly; you'll need to have a clear out before moving anyway.

    Or a balance transfer from some credit cards?
  • Edi81
    Edi81 Posts: 1,499 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Sandtree said:

    Been offered a house (cash purchase), we are about £25k short, 
    We can market our own home ASAP, but vendor wont wait until that is sold (value £100k+) for this cash deal. 
    We can raise the rest in cash without the proceeds from our home.

    Need to say Yes to property ASAP. BUT -

    Bank wont offer us the £25/30k because I am 70, wife is 60 but her income alone is too low. 
    To be fair they tried both a home improvement loan in her name (refused on her income), and some sort of Equity access from current property in my name (refused on my age).

    Any suggestions please for raising the £25-£30k ASAP ??
    What income do you have? What duration would you need the loan over?
    Thanks for copying the question. How rude of the OP to delete! 

  • onesixfive
    onesixfive Posts: 498 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    I deleted the entry - my problem is solved - I didn't want to clog up the forum with any more replies. I don't know how to remove the entry completely.
  • I deleted the entry - my problem is solved - I didn't want to clog up the forum with any more replies. I don't know how to remove the entry completely.
    And how does that help anyone that might have a similar problem in the future?

    Don’t delete topics.

    You may help other people if you describe how you solved your problem.
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