L
Larkhill Jo
Guest
Hi,
Hopefully someone has experience of this and can help. I am buying another property and refinancing an existing mortgage to make up the 10% and stamp duty of the new purchase. I have changed solicitors this time and my new solicitor is waiting to get the deeds of my PPR which can apparently take a while. I plan on signing contracts this week and need to have the balance of the 10% ready. Because I have full loan approval for both the new property and the refinancing I am hoping that I will be able to get some sort of bridging finance (i.e.personal loan) of approx €30k until the refinancing is drawn down.
Has anyone here done this before or know how likely a bank will go for this given that the mortgage is in the pipeline? Also, how long could it take my solicitor to retrieve the deeds from my old solictor who i used two years ago?
Appreciate the help.
LJ
Hopefully someone has experience of this and can help. I am buying another property and refinancing an existing mortgage to make up the 10% and stamp duty of the new purchase. I have changed solicitors this time and my new solicitor is waiting to get the deeds of my PPR which can apparently take a while. I plan on signing contracts this week and need to have the balance of the 10% ready. Because I have full loan approval for both the new property and the refinancing I am hoping that I will be able to get some sort of bridging finance (i.e.personal loan) of approx €30k until the refinancing is drawn down.
Has anyone here done this before or know how likely a bank will go for this given that the mortgage is in the pipeline? Also, how long could it take my solicitor to retrieve the deeds from my old solictor who i used two years ago?
Appreciate the help.
LJ