Best way to get money to finish off house building work.

[Postdog]

OK this might sound naive but my experience is limited so just seeking advice.

Long story short, I had a house with a mortgage, then last year no job and still a load to pay on it. It was unlikely I would find a job able to pay enough to continue as I had, so I decided to cash in on the equity I had, and buy a house miles away and start over.

The upshot is I found a nice house in another town and bought it outright, so no mortgage. No job either (as yet) but that is planned once we;ve settled, and unlike before, it's not critical what I earn.

I came out with a small profit, and still have my endowments running due to matue in 5 years or so, so am reluctant to cash in or sell,

The profit isn't large enough to complete some building work (not essential) that needs doing, and I reckon I'll need maybe 5 or 10 grand to complete. What is the best way to secure that once I am more settled and organised?

[bednobs]

when you are working a mortgage might be the best bet

[granny grump]

Are you sure that your endowments are on track Postdog? - It wouldn't hurt to explore how much you could get if you sell as opposed to what they are currently worth and your endowment company can give you a figure. There are a lot of companies that buy endowments. You are only asking questions afterall and then you will able to make an informed decision. The only downside that I can see from this option is that you won't have the life cover provided by the endowment which dependent on the value could be considerable - weigh that against the premiums and cost of life cover and do the sums.

In today's climate it may be difficult to get a mortgage with no income unless 'other income' is sufficient. If it isn't something that you need to do immediately then make some enquires speak to your bank building society and search endowment purchasers on line