G greendc Registered User Messages 2 10 May 2017 #1 If I bought a property with cash would I be able to get a mortgage on it to repay a loan from the parents? It would be a percentage of the value of the house, say 15% or so (50 grand).
If I bought a property with cash would I be able to get a mortgage on it to repay a loan from the parents? It would be a percentage of the value of the house, say 15% or so (50 grand).
D delfio Registered User Messages 169 10 May 2017 #2 Maybe you better off getting a personal loan or a credit union loan for the relatively small amount involved.
Maybe you better off getting a personal loan or a credit union loan for the relatively small amount involved.
Brendan Burgess Founder Messages 52,118 10 May 2017 #3 Banks seem reluctant to lend money on a house with no mortgage. But Pepper would probably do it. Why not apply for the mortgage now when you are buying the house? Or alternatively, keep the loan from the parents and repay it as quickly as you can. Brendan
Banks seem reluctant to lend money on a house with no mortgage. But Pepper would probably do it. Why not apply for the mortgage now when you are buying the house? Or alternatively, keep the loan from the parents and repay it as quickly as you can. Brendan