I am considering moving house, i.e. selling and buying. No mortgage at the moment, and none planned long-term.
I am expecting to be able to fund it through an investment disposal and / or bonus payment. However neither of these are guaranteed in the timescale needed.
Hence, I am looking at options for a short-term (2-3 year) loan secured against a book of investment property.
E.g.
Selling a house for 600k
Buying a house for 900k
Need 350k
Expecting to get the 350k from a share sale and / or a bonus payment, that has a small chance of not materialising in the required timeframe.
So want to have a "backstop" option of borrowing the 350k against an investment property portfolio worth 900k that is currently generating 60k per annum in rent, with a view to clearing the loan in 2-5 years (likely 2).
I've looked at Dilosk, Finance Ireland, etc... but I'm not really familiar with these sort of transactions. Anyone any recommendations?
I am expecting to be able to fund it through an investment disposal and / or bonus payment. However neither of these are guaranteed in the timescale needed.
Hence, I am looking at options for a short-term (2-3 year) loan secured against a book of investment property.
E.g.
Selling a house for 600k
Buying a house for 900k
Need 350k
Expecting to get the 350k from a share sale and / or a bonus payment, that has a small chance of not materialising in the required timeframe.
So want to have a "backstop" option of borrowing the 350k against an investment property portfolio worth 900k that is currently generating 60k per annum in rent, with a view to clearing the loan in 2-5 years (likely 2).
I've looked at Dilosk, Finance Ireland, etc... but I'm not really familiar with these sort of transactions. Anyone any recommendations?