fussy Posted November 12, 2007 Share Posted November 12, 2007 Can anyone throw some light on this bit of info, we have been told that if say you own a piece of land and want to build, you can have a mortgage , pay nothing for two years, except 80 euro a month, to cover insurance, then at the end of this time, you sell your excisting house (sorry should have said you have to own a house, and live here) to pay back the mortgage with just 2 percent interest added on, can't believe this to be right, but our source was adamant this is so. Link to comment Share on other sites More sharing options...
Chrisb Posted November 12, 2007 Share Posted November 12, 2007 Sounds like a Pret Relais, or Bridging Loan to me. We have just taken out a Pret relais to cover us over a 6 week period between the purchase and sale of our house and will be paying 90 euros per month insurance with around 2% interest to pay when we settle after our house sale goes through. It, too, would have been valid for upto 2 years.Chris Link to comment Share on other sites More sharing options...
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