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Short term Finaince for House Build
sasso
Posts: 3 Newbie
Hi,
I am undertaking a self build next door to my main house. I want to borrow about £250k but only for 2 years, just while I build the new house then sell old one and move into new house.
Whats the best way to finance this, I can use main house to secure a loan upon.
TIA
I am undertaking a self build next door to my main house. I want to borrow about £250k but only for 2 years, just while I build the new house then sell old one and move into new house.
Whats the best way to finance this, I can use main house to secure a loan upon.
TIA
0
Comments
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It really depends on whether your house has this equity in it to release, and whether your income would support such a loanI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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my mum wants to borrow £200k for one year she is a pensioner and owns her house. I would like a more specific answer to the above question!How can interest rates be compared?0
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