Have decided to go ahead with this type of loan after sons remortgage was delayed and he was in danger of losing house. Lots of thought and stress!! His purchase house is particularly cheap as it needs a lot of work but is in a good location and near me.
I am selling a second home, was doing so anyway, so this and his remortgage are two means of paying off BL. Loan is costing £5000approx plus the interest. Think I have done the reseach but it is a scary commitment. There is a lot of real pressure as the seller is going to put the house back on the market if we cannot get a firm financial plan in place. Any useful safeguards or helpful comments gratefully received.
Kindness from a stranger made my day
