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TOPIC: Borrowing
#593
Claire (Visitor)

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Borrowing 8 Months ago  
Is it still possible to borrow more than the offer. I've made an offer of £60,000 on a house which was advertised as £85,750. Could I borrow £80,000 and use the £20,000 difference for renovations?

Claire x
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#594
Devonte (User)
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Re:Borrowing 7 Months, 4 Weeks ago Karma: 0  
Hi Clair...
Borrow Borrow Borrow! this is the social behavior which has ruined our nation and now we are standing at verge of worst financial crisis in history of our country and there are no guarantees that we will survive during this crisis and come out as united nation again. Please give it a break and don't borrow.

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Last Edit: 2011/09/24 15:30 By Devonte.
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#601
Horton7 (User)
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Re:Borrowing 7 Months, 3 Weeks ago Karma: 0  
Devonte you are absolutely right and I agree with you that Borrowing money is becoming a social behavior these days and it is ruining our nation and we are getting into financial crisis. So borrow money only in that condition if you can pay it back in the targeted time..!!
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Last Edit: 2011/10/01 17:14 By Horton7.
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#671
Comparethemortgagemarket (User)
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Re:Borrowing 4 Months, 4 Weeks ago Karma: 0  
Claire, no you could not do that. You can only borrow a percentage of the purchase price, so if you are purchasing at £60k, you could perhaps borrow a maximum of 90% of the £60k.
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