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How do bridging loans work?
Comments
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Everything that is supposed to be in heaven is already here on earth.
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Okay, I lend you £200K to finance your new house.
I charge you 1.5% per month ...3K per month until you repay me the 200K (ie sell the house)
If you sell within a month, then okay, expensive, but not end of world.
If it takes 12 months to sell, I am laughing and you probably would not laugh.0 -
It was in the news last week that LEAs were spying on families to make sure where they were living full time in the address they had given.
To be honest if it was that easy, surely loads of people would just rent a tiny cheap house in the catchment area; would be cheaper than private schooling?
Well I did see a local advert for a studio flatlet for sale (bedsit, no bedroom, single room living, max 15' square) ... and the details said "in the catchment area of xxx School". Must have been a marketing ploy for a few years.0 -
Okay, I have no other option then, can somebody on here give me £200,000 to buy the house. You can stay in it whenever you like!!!
Has anyone any other ideas instead of bridging loans?
:mad: :A
I know what I am talking about.........it's just that nobody else does!0 -
You do have options...
Read Doozergirl's reply again.
Otherwise, I will 'give' you 200K at 1% per month.
Tass
(Not advertising by the way)0 -
We discussed that and that is what we are going to do, only hope for a very quick sale, things are not moving very fast here.
Our faults for leaving it until last minute! :mad: :A
I know what I am talking about.........it's just that nobody else does!0 -
What are you going to do?
Sell at a reduced amount or rent out?0 -
this is going to sound really crazy, but can your daughter stay with any of her friends in the catchment area temporarily until this gets sorted - i've not thought this through at all, but just an 'out of the box' comment!!0
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Things aren't moving very fast but there are some buyers out there. If your house is the cheapest, it is the most attractive.Everything that is supposed to be in heaven is already here on earth.
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