F forbes Registered User Messages 57 18 May 2012 #1 Hi, I am hoping to buy a house in the next year or so but all my cash is in stocks. Can my investments be used as a deposit for a mortgage or would I have to sell them?
Hi, I am hoping to buy a house in the next year or so but all my cash is in stocks. Can my investments be used as a deposit for a mortgage or would I have to sell them?
F flattea2 Registered User Messages 229 18 May 2012 #2 How do you expect to pay the vendor - in stocks?!
H huskerdu Registered User Messages 2,569 18 May 2012 #3 As a seller, I would not accept stocks instead of a cash deposit, and I have never heard of anyone else accepting them.
As a seller, I would not accept stocks instead of a cash deposit, and I have never heard of anyone else accepting them.
M mandelbrot Registered User Messages 2,330 18 May 2012 #4 Sell the stocks - ask them to pay you in cash, or something that a vendor will accept in exchange for a house...
Sell the stocks - ask them to pay you in cash, or something that a vendor will accept in exchange for a house...
M mandelbrot Registered User Messages 2,330 18 May 2012 #5 ... oh and don't forget you may owe CGT from the proceeds of sale of shares.
V Vanilla Registered User Messages 4,098 19 May 2012 #6 Is your question really- will the bank lend me 100% to buy a property using my investments as collateral? I have seen this done in the past but in the current economy I'm not sure. Only way of finding out is to ask.
Is your question really- will the bank lend me 100% to buy a property using my investments as collateral? I have seen this done in the past but in the current economy I'm not sure. Only way of finding out is to ask.
L LDFerguson Registered User Messages 4,842 20 May 2012 #7 Vanilla said: Is your question really- will the bank lend me 100% to buy a property using my investments as collateral? Click to expand... If it is, the answer is No.
Vanilla said: Is your question really- will the bank lend me 100% to buy a property using my investments as collateral? Click to expand... If it is, the answer is No.