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How to finance Downsizing?

Last post Mon, May 07 2007, 10:22 PM by codswolop. 1 replies.
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  •  Mon, May 07 2007, 10:22 PM

    Re: Bridging Loan?

    Lloyds TSB do bridging loans and I thought they were pretty ubiquitous.
    • Post Points: 5
  •  Sun, May 06 2007, 10:53 AM

    How to finance Downsizing?

    I want to buy my neighbour's house £100K approx and then to carry out some adjustments to shared access and then to sell my house £250K within 3 months timescale.

    I need to have the 2 houses for a short period to make changes which will add value to each and can pay interest/ fees from sale of my house and will live in my neighbours house.

    I have a low income (retired) so how do I borrow the £100K to buy the second house while keeping the first for a short while - I can raise £25K on existing flexible mortgage?
    • Post Points: 20