Any wealthy people out there?

[nubbin]

I'm trying to sell my house, and move next door (long story!). My neighbour has agreed to wait until the end of this month before marketing his house - but his house, which I have wanted to buy for 10 years, will sell as soon as it goes on the market. Now, who's got A LOT of money, and can lend me enough to buy his house, until I get mine sold? Free medical advice to anyone who offers!!

[miniman]

Bridging loan? Surely one of the lenders will see that it is worthw their while helping you out while you get your place sold??

If it is next door, surely your place would also sell pretty fast?

[Don]

Bridging loan, mate, I'm afraid! Unless he's willing to accept your offer in the knowledge there's a chain...

[dazren]

Bridging loan from bank?

Why won't your house sell just as quickly as your neighbours house? providing of course that you set your price for a quick sale.

DAZ

[nubbin]

His house comes with quite a bit of land, hence it's more attractive to horsey types. Mine although a very big house, is not so attractive, superficially.

I guess you're all thinking on the same lines as me, but bridging loans are soooo expensive, especially the sums of money I'm needing!

[incorrigible]

How much equity have you got in your house ?

If you can raise 20% of the price for next door from you own equity you can get a commercial mortgage (rates about 0.5% to 1.0% higher than domestic) for the other 80% until your house is sold

I did that with both my neighbours houses

[mel]

I'm sure you can afford it just think of all the dosh you saved not having to send the kids to a private school oh PH the font of all knowledge and advise on the most bollox of subjects

[CarZee]

errr.. talk to your lender - ours allowed us to go interest only on the property we were selling, and move our capital/endowment onto the new property/mortgage.

Took us 3 months to sell our flat in London after we moved to Basingstoke - on interest only it cost us much less than a bridging loan would have..

We discussed both options and the bacnk were much happier to do it this way than arrange a bridging loan (interest and setup charge on which is staggering).

[loon]

I have just bridged to buy my next door neighbours house and it is a "large" sum of money, I also bank with the lender and they have agreed to charge me 1% above base (4%) and a set up fee of just £150. unbeleivable I hear you say, but commercially I pass a lot of money through this bank annually and I suppose its just a case of who you know. Work on your bank manager, they are willing to negotiate these days.
Good Luck.

[alan_driver]

How about, you swap houses, pay towards the house you will be buying with money you already have. Put your (origional) house on the market, and pay him the rest when it has sold.

Edited to say 'ignor that' It doesnt matter which house your in as you still have the same problem'
Geezz i have some daft ideas
:gotcoatandleggingit:

>> Edited by alan_driver on Wednesday 8th January 20:02

[flasher]

You could build a new, large house in the grounds of Mel's huge estate in the South East. I believe he called his Estate "Kent"..

Alternativley move to Wales where a large house can be bought for as little as fifty pence. If you don't believe me then check this out..
www.rightmove.co.uk/rm/s/rm/template/publicsite%2Cbuying%2CPropertyDetails.vm/nc/1042060253862/svr/1034?p_id=1337321&pa_n=12

£550 for a house.. Mel could buy the whole bloody town..

[ultimapaul]

Although in the For Sale section, is that house not for Rent. I only say this because it says "Unfurnished"

Looks a sh!t hole for £550 a month.

I would buy it for that sort of money though, well make an offer!

[tvradict]

Unfurnished house for £550

[flasher]

No, it's for sale, it's in the "For Sale" section and not the "rental" section. £550 ono. But I can assure you, you wouldn't want to live there....

>> Edited by flasher on Wednesday 8th January 22:04

[shadowninja]

hmm if its correct, then make them an offer of £450 and rent it out for 50p a month.

[SGirl]

flasher said: But I can assure you, you wouldn't want to live there....

Sorry, am I missing something here? Why not? What's wrong with Bradford on Avon??

I have this unpleasant feeling I've just been very naïve....

[miniman]

Yeah, I live nearby and I thought that Bradford on Avon was OK... Surely it's a typo?!

[yertis]

Of course it's a typo - like Kodak digital cameras for £100 was last Christmas. Mind you, Kodak had to honour that one...

Bradford on Avon's a lovely little place.

[flasher]

Just have a good look at the picture....it's obviously not on an estate with security gates and a health club is it? And I've checked, it does seem to be a typo as it's for rent in the rental section at the same price....£550 for that place Thats even scarier than buying it for £550!!

Heres the worst rip off I have ever seen....
www.rightmove.co.uk/rm/s/rm/template/publicsite%2Cbuying%2CPropertyDetails.vm/nc/1042104726511/svr/1035?p_id=1290014&pa_n=1

>> Edited by flasher on Thursday 9th January 09:32

[mel]

I've just bought it in the name of John Prescott, I'm getting my driving license sent out over the next few days and will be applying for my credit cards to pay all my speeding fines shortly