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I am buying a house to renovate what is the best type of mortgage or loan to pay off early when house is sold |
i am in uk and need to raise about 拢30,000. iplan to sell property in between six and twelve months. i will be purchasing another house after this one on the same basis google mortgages ask an independent finacial advisor Get a fix rate LIBOR interest only loan with no penalty for early pay off. I would think an interest only loan package would be in your best interest, lowest payment you can get while you renovate, before you resell these are quite good http://xrl.us/rjpk and this http://xrl.us/rjpm http://www.22cmind.blogspot.com... feel free now, to click on the adwords at the top of the page A normal mortgage would be the best but without early redemption penalties. It depends upon whether the property is mortgageable -i.e. has functioning kitchen/bathroom. The house must be a tip or are you doing all the work yourself in your spare time? A house would normally take about 1-2 months to renovate. Extra time eats into your profits. |
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