I'm trying to finance building a house in the next few months (just erection to weathertight at this stage). It looks like I'm going to be a bit short of cash and I'm wondering what sources might be out there that I'm not aware of. I'm thinking about something in the £20k to £50k range.
I've got a company which makes good money but has only been making revenue for the last 12 months. There is a big director's loan so any company-based financial product that can be used to "refinance a loan" could be a candidate.
I don't want to get a self-build mortgage because they are very costly, the money only arrives after a stage is finished (problematic) and there is a lot of additional complexity with signing off stages with an architect.
Higher interest rates are not necessarily a deal-breaker because I intend to be able to pay it off mostly or completely in about a year but obvious rip-your-face-off deals like a simple google search throws up with the words "49% apr" hidden in the tiny text are an obvious no-no.
I'd want something that can be paid off early without too big a penalty.
I'm wary of anything involving credit cards for a sum this big.