Hi there
I am currently putting the max away on the SSIA which doesn't mature until April 2007. I am currently approved of a max of 195,000 house purchase based on a 92% mortgage. My bank is willing to over me a bridging loan for the deposit of the house, and when my ssia matures I can pay the whole thing back, which means my ssia would essentially be gone. Is this a bad idea? or should I wait until next year to buy a house when my ssia account matures?
Thanks in advance for your help
I am currently putting the max away on the SSIA which doesn't mature until April 2007. I am currently approved of a max of 195,000 house purchase based on a 92% mortgage. My bank is willing to over me a bridging loan for the deposit of the house, and when my ssia matures I can pay the whole thing back, which means my ssia would essentially be gone. Is this a bad idea? or should I wait until next year to buy a house when my ssia account matures?
Thanks in advance for your help