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Post by Deleted on Sept 7, 2021 18:52:23 GMT
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Post by Mr Stabby on Sept 7, 2021 18:58:26 GMT
If you and your wife are both creditworthy and the boat costs less than £50,000, why don't you each take out an unsecured personal loan of £25,000?
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Post by metanoia on Sept 7, 2021 19:00:00 GMT
I bought a very small, very modest boat within a month of my first (and only) weekend away on a narrowboat (pah! an old man's sport after sailing and speedboating!), took a 6 month sabbatical and 12 month mortgage "holiday" 14 years ago.........
Good luck. It's what you make of it x
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Post by Deleted on Sept 7, 2021 19:09:40 GMT
I was faced with a similar dilemma, was going to B&B it until I found the right boat but soon realised that was going to cost serious money, decided on day 5 to buy a cheap caravan and keep it on official sites with hookup etc, moving every two weeks, turned into a great decision especially as it took me about 5 months to find the right boat.
My advice is to look at temp accommadation options (up to 6 months) as a solution - depending on choice of options you might even save by becoming a genuine 'cash' buyer when making an offer.
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Post by Deleted on Sept 7, 2021 19:13:43 GMT
If you and your wife are both creditworthy and the boat costs less than £50,000, why don't you each take out an unsecured personal loan of £25,000? I was wondering, as you are Head of the Goon Squad, does your organisation offer such a thing? Seriously, I did consider that but the wife's never been keen on credit of any kind. It would solve a part of the problem I must admit.
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Post by Deleted on Sept 7, 2021 19:19:14 GMT
Bridging loan or caravan as Mr KFC says..
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Post by Mr Stabby on Sept 7, 2021 19:21:50 GMT
If you and your wife are both creditworthy and the boat costs less than £50,000, why don't you each take out an unsecured personal loan of £25,000? Seriously, I did consider that but the wife's never been keen on credit of any kind. It would solve a part of the problem I must admit. I don't like credit, in fact apart from a few hundred quid I owe to HMRC which I am paying off by instalments as low as they will permit simply through principle and spite when I could easily pay the lot back in one go, I do not owe one brass penny to anyone. But the minute amount of interest you would shell out if you paid both loans back in full as soon as the equity from the house came through would be far, far cheaper than any B&B.
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Post by Deleted on Sept 7, 2021 19:22:33 GMT
Good luck with the house/boat swap. Would it not be better to sell the house then do a short term rental and look for a boat ? If you are taking the plunge then it seems sensible to give yourself time, and financing, to get the right boat. Not that I know anything about this sort of planning as I have spent my life living on money left to me by dead relatives
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Post by Deleted on Sept 7, 2021 19:24:30 GMT
I'll give you some credit for this statement.
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Post by Deleted on Sept 7, 2021 19:25:40 GMT
I hesitate to offer advice as we all approach problems from our own perspective on risk, finance , adventure etc. But I'd be wary of feeling forced or pressured into an overly quick decision about your future, simply to accommodate others time frames. A few weeks renting, or the purchase of a cheap camper or caravan, or even squatting with family, may give you more control over decisions, to avoid feeling rushed into buying the first available boat. Good luck with it, whatever you decide Rog
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Post by Deleted on Sept 7, 2021 19:29:02 GMT
Also remember, boat prices are crazy at the minute, don't get giddy and pay over the odds because you feel its the right boat and don't want to loose it.
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Post by Trina on Sept 7, 2021 19:39:44 GMT
Don't buy in a rush or you'll probably regret it ! Your boat needs to find you,not the other way round.
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Post by Isambard Kingdom Brunel on Sept 7, 2021 19:41:28 GMT
You need to get things in order.
1 Find a mooring, its harder than you can imagine.
2 Put the house up for sale. At A much higher price than any valuation, you want a mug with money to burn, they do exist.
3 Whilst all the tyre kickers are driving the estate agent daft making offers that you refuse, find a sound boat at a sensible price, not necessary exactly what you want because being new you have no idea what you really want anyway.
4 Go weekending on the boat from your mooring whilst the house sells to the first sensible offer over valuation. Finance this first CHEAP boat with loans, interest rates are at an all time low so take advantage.
5 Enjoy boating, find the boat you really now know you want and buy and sell boats.
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Post by Deleted on Sept 7, 2021 19:51:04 GMT
I would say the main thing is to not sell the house.
I never owned any property and never will but I did start living on boats aged 20 so I do know 27 years later that I like it.
It seems to be a pretty high risk strategy given that living on a boat is so different to living in a house. Even on a fully serviced residential mooring it is not similar at all.
Another approach might be to look into doing a winter hire of some sort.
Winter is the best time to be on a boat and damhikt but it is also quite a complicated situation so it's the best time to find out what's happening, without committing.
We have a winter coming up very soon and I'm like "yay!".
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Post by Deleted on Sept 7, 2021 19:53:17 GMT
I was faced with a similar dilemma, was going to B&B it until I found the right boat but soon realised that was going to cost serious money, decided on day 5 to buy a cheap caravan and keep it on official sites with hookup etc, moving every two weeks, turned into a great decision especially as it took me about 5 months to find the right boat.
My advice is to look at temp accommadation options (up to 6 months) as a solution - depending on choice of options you might even save by becoming a genuine 'cash' buyer when making an offer.
That idea, after giving it some thought, is a pretty good one. It would actually solve more than one problem. We wouldn't have to rush and buy something that wasn't quite right and we already know the area we would like a mooring so we can concentrate on looking for boats in that vicinity first. We will give it some serious thought.
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