Dear forumers,

I am in need of financial advices now. Recently, my dad has been having financial difficulties and now is thinking of mortgaging the house as a collateral.

My question is, what are the requirements for securing a 100k loan from bank? How long would be the loan period and interest rate?
I am not sure about this though.

The house that would be mortgaged is not under any previous loan, mortgages or anything. It's owned by my dad and it's a double storey terrace.

If the house could be mortgaged, what are the requirements and which bank would be suitable for my dad to apply?

Thanks.

If there's any questions or inquiries, please ask me more as I am new to this thing.

Edit: Is there any other way to secure a 100k loans without mortgage? I am not sure. If there is, please provide more information about it.

Thanks.

This post has been edited by Hikaru Kenshin: Mar 25 2009, 07:23 PM

Oh, thanks for the information.