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Short term mortgage

  • 15-09-2015 12:39PM
    #1
    grizzly_beer
    Registered Users, Registered Users 2 Posts: 116 ✭✭


    I'd like to buy an apartment in Dublin now.
    I'll need a loan of about 100,000 to buy it outright though.
    However I am also expecting to receive 100,000 in about a year or less.

    Since this will be a short term loan I'm hoping not to pay too much interest.
    Is there a bank / credit union / building society that would provide this sort of loan?
    Tagged:


Comments

  • #2
    NIMAN
    Registered Users, Registered Users 2 Posts: 35,807 ✭✭✭✭NIMAN


    You could take out a 100k mortgage for the minimum time span they allow, then just make a lump sum payment once you get the 100k.


  • #3
    Trish56
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭Trish56


    You may not qualify for a mortgage based on your income and affordability for a short term so just take out a variable rate mortgage on a 20/25 year term and when you receive the 100k just pay it off.

    grizzly_beer wrote: »
    I'd like to buy an apartment in Dublin now.
    I'll need a loan of about 100,000 to buy it outright though.
    However I am also expecting to receive 100,000 in about a year or less.

    Since this will be a short term loan I'm hoping not to pay too much interest.
    Is there a bank / credit union / building society that would provide this sort of loan?


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