I have somehow stumbled upon this website and it looks like some of you might be able to offer advice.
I will be looking to borrow from *some* financial institution in the next 12 months and I'm wondering who YOU think will loan me the money and if you have any advice in general.
I'm a single Mum, one daughter. Currently renting.
My parents have applied for planning permission to extend their home to allow for the equivalent of a 2 bedroom apartment for my daughter and I The new build, though part of the house, will essentially be self contained.
I will have to pay for the new build, and the approximate cost will be €130,000.
I already have €50,000 of my own money and the rest I will have to borrow.
The house belongs to my parents and therefore I can't apply for a mortgage. Re-morgating is not an option for them as the mortgage is already paid and my parents are in their 70's. I have 2 siblings and the house will eventually be left to the 3 of us, taking into consideration my investment.
So my question is, who will loan me approx €80,000 in this circumstance? Perhaps the credit union would be more accommodating than banks....but CU repayments would be over 10 years max and I would prefer to pay over a longer period.
Any suggestions/ideas?
Thanks
I will be looking to borrow from *some* financial institution in the next 12 months and I'm wondering who YOU think will loan me the money and if you have any advice in general.
I'm a single Mum, one daughter. Currently renting.
My parents have applied for planning permission to extend their home to allow for the equivalent of a 2 bedroom apartment for my daughter and I The new build, though part of the house, will essentially be self contained.
I will have to pay for the new build, and the approximate cost will be €130,000.
I already have €50,000 of my own money and the rest I will have to borrow.
The house belongs to my parents and therefore I can't apply for a mortgage. Re-morgating is not an option for them as the mortgage is already paid and my parents are in their 70's. I have 2 siblings and the house will eventually be left to the 3 of us, taking into consideration my investment.
So my question is, who will loan me approx €80,000 in this circumstance? Perhaps the credit union would be more accommodating than banks....but CU repayments would be over 10 years max and I would prefer to pay over a longer period.
Any suggestions/ideas?
Thanks