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Query about Mortgage.

  • 13-10-2017 10:06am
    #1
    Steviesol
    Registered Users, Registered Users 2 Posts: 250 ✭✭


    A friend of mine owns a house worth 250k with a mortgage of 27k left. She wishes to buy a house for 150k. She has no income as such but is about to put 250k house on thethe market..

    The 150k house is ready to be moved into. Would it be normal for a bank to provide a short "loan" of 150k to buy the house whilst waiting on the sale of 250k house?

    Thanks


Comments

  • #2
    phormium
    Registered Users, Registered Users 2 Posts: 3,345 ✭✭✭phormium


    Not really, what she is looking for is a bridging loan but it's a good many years since banks offered them.

    If she had a sales contract signed for her own house it might be more appealing to a bank but I don't even think that is a dead cert these days.


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