How are you financing your purchase?

wemyss1960 · #1 02-07-2008, 08:21 AM

Thought this may an Interesting thread.

Please state any specifics if possible.

sorry - left out 'dont know' from the poll

Lsab · #2 02-07-2008, 10:00 AM

Hi Stuart,

Our financing is a bit of a mixture. The first 40% is part personal loan part cash, the final 60% we hope to pay with an Egyptian mortgage.

Nice thread by the way.

Linda

wemyss1960 · #3 02-07-2008, 10:22 AM

Quote:

Originally Posted by Lsab

Hi Stuart,

Our financing is a bit of a mixture. The first 40% is part personal loan part cash, the final 60% we hope to pay with an Egyptian mortgage.

Nice thread by the way.

Linda

Thanks Linda,

where did you buy? where you promised a mortgage?

queenie40something · #4 02-07-2008, 10:43 AM

Hi Stuart mine is a personal loan that will all be paid off in 3 years - yippee.

wemyss1960 · #5 02-07-2008, 11:11 AM

Quote:

Originally Posted by queenie40something

Hi Stuart mine is a personal loan that will all be paid off in 3 years - yippee.

Thanks Alison,

A short term personal loan at a decent rate I hope.

Enjoy the sun!!!!

queenie40something · #6 02-07-2008, 11:16 AM

Hi Stuart - yes it was a decent rate. We didnt want it hanging round our neck for years. Of course if we manage to rent it out the extra income will be used to pay the loan off earlier.

Lsab · #7 02-07-2008, 02:36 PM

We're buying a studio on Hania Beach, Stuart. We haven't actually been promised a mortgage but am hopeful we'll get one.

#8 02-07-2008, 04:11 PM

We were lucky enough to have a share in the proceeds of the sale of a property in the UK. For the past 5 years it has sat in a bond and hardly grown. We decided to plough it into another property, but with UK prices being too high our only option was to purchase abroad. Egypt is our favourite holiday destination with bags of potential, so this made our decision for us. We hope our capital fund will grow enough over the years to keep us in the lifestyle we're accustomed to when we retire. You have to speculate to accumulate ... as the saying goes

soluman46 · #9 02-07-2008, 07:17 PM

Great Idea. I also used a mixture of savings (40% and legals) and 60% added to UK mortgage. I have a studio in dp1. The furniture pack was purchased on a 0% 12month credit card. May as well not pay interest before you get it! I will pay most of this off in September with cash savings.

johnwayne · #10 02-07-2008, 07:22 PM

hi Lsab - the morthgage looks interesting - is this only for Hania?

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