|Comments on Tuesday 30 May 2006:|
|So, I've finally figured out where in the UK I want to live, and coincidentally also found a house that's reasonably in my price range and ridiculously well suited to me (meaning low-maintenance everything), but I'm still hitting the same catch as when I was only just back in the UK - nobody will do a mortgage for someone who's been out of the country (both legally and physically) for the last several years.|
Thus, a half-plea half-offer - does anyone have spare money they want a good interest rate on? I would pay a 7% APR, which is better than you'll get from banks or most money-market things. Ideally UK money since then currency-exchange-rates won't confuse how much must be paid back, but other currencies would work too if the amounts are large, with whether the interest is on the numbers in your currency or mine being pre-agreed.
The loan would be pretty much locked in for ten months, so similar to a cash-deposit bank-thing (only with a couple of percent better interest rate, and over a shorter term) - after that I can either continue to pay the loan back slowly, like a normal mortgage, and you'd continue to get the high interest rate, or at that point I'd actually be able to get a normal mortgage, so I could "remortgage" the house and easily pay back any money borrowed from friendly humans.
The numbers that a normal mortgage-broker would be interested in, if they weren't rejecting me out of hand for having travelled - the house is 85000 quid, and I have a bit more than 30000 quid of that up front myself. In the unlikely case that I am unable to make payments on a loan I would sell the house in preference to screwing the loaner, but that shouldn't be an issue anyway since I can pay the loan back in ten months regardless of what my income might be doing. I will of course insure the house over any time that money is borrowed, to be certain that payback is possible.
I know a couple of people have recently sold houses and have drifting money they've been wanting to invest in a low-risk middling-high-interest thing. I am that thing! A couple of people expressed vague interest in this idea already, and if they've not changed their minds I won't need very much more at all, so I'm not just being totally insane and expecting random Livejournal friends to magically lend me 55000 quid. I have some grounds for believing it's feasible, and a few smaller amounts might just complete the deal for me.
So, if you're in a similar position to those house-selly people (or me of two years ago for that matter), with a bit of spare money that could do with becoming slightly larger and isn't doing anything else for the next year or so, email me at email@example.com to stake your claim and make me happy. [08:47]
|never have i heard your fans so quiet...|
i've no money to loan, but i thought i'd wish you luck anyhow...
|I'm honestly considering this I just need to research international contracts a bit first.|