Where can I get €80k until house is sold?

Ruthie

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Hi. I m coming to the end of a divorce. He is going to buy me out but still has to demonstrate repayment ability for next 3 months. Then we 'll have separation talks. I m slightly ahead, I 've been granted approval in principle of 140000, but won't get the money til after april payment ( repayment ability). There s a house i really want to buy, it s 220 000. Our house has been valued at 245 000, with 38 000 left on the mortgage. So I will get at least 100 000. But i dont know when!!

Any idea where I could get the 80 000 as a short term loan?
Thanks for reading!
 
Sounds as if you are way ahead of yourself rather than slightly ahead. If loan not achieved through family or friends interest free then short term rates would surely be expensive and big question is will it be short term.
 
You may end up with an issue drawing down the mortgage if you have another loan with high repayments in place. Even though you have approval in principle, when you go to drawdown lender could ask for updated statements etc.
I'm not clear on the order in which you are doing this also - you mention he is going to buy you out and then you will have separation talks, but shouldn't the separation agreement or divorce agreement specify what is happening with the house and the amount or % he needs to pay you for buy-out?
 
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