Well the cheapest way to borrow money is through a mortgage. If you can extend your own mortgage and then pay it back in a few months it will cost you very little. How have you arranged your finance to purchase this property abroad ? At mortgage rates the interest on 20k over 6 months is going to be around €450, if you have to get a personal loan it will cost you twice that.
But surely if you are investing abroad you would/should know this ??!
Might be the cheapest money alright but the savings may be eroded if their are legal fees, extra life assurance and a house valuation required should the op decide to go the mortgage top up route. In terms of time the op will be doing very well to sort out a top up between now and the end of January imo - a variable rate term loan might be the only practical solution for the op whereby he can clear the outstanding balance , without penalty, once his ssia matures.
Agree with you there. I got an equity release not so long ago. Cost €150 for my PPR valuation & Solicitor charged me over €700 for doing his bit.
I knew I would have to pay for the valuation but the Solicitors bill I couldn't believe. Surely there isn't much work involved ?
Some banks also charge an equity release fee of around €200.