Obtaining a loan-struggling

njm101

Hi, wandered if anybody could help.
I am currently trying to obtain a loan, my credit rating isnt brilliant due to the fact that i have recently(within 6 months) changed my mortgage provider, and my financial adviser sent about 10 applications out at the same time which put a several foot prints on file. I have also afew late payments on the file due to me switching banks (from the halifax Grrr, money grabbers!).

I have applied to quite afew companies over the past month, and also brokers stuck there nose in, one saying they had definatley sorted a loan out for me, but then asked for a payment of £49.99 to cover thier costs, paid it, wrong move, they did nothing THE LOAN PEOPLE..stay clear!
Im trying to obtain a loan for around £5000, to clear 2 store cards and have some extra cash for christmas.
There seems to be no-one out there who will help me obtain this, i have no CCJ's or adverse credit, not great credit but not good either.
Welcome said they could help, be at 55% apr.. erm cant stretch to that..
I dont want go secured either, to risky, plus need cash before christmas and secured seemes to be a lengthy process

Any directions to try??

Thanks

Neale

leespot

The more applications you make, the worse you will make the situation. Best to wait a while (as in months according to the credit reference agency's!)

I'm not sure what you mean by a secured loan being too risky? Does that mean that you aren't sure you can make the payments and don't want to lose your home. Secured loan would be a lower APR too.

njm101

hi thanks for the reply.

I really dont like the idea of having a loan secured against my property.
My mortgage is always paid on time and i have never missed a payment, im not saying i would with the loan, however having something else resting on my home is not an avenue i want to persue. Sounds horrible!
Another thing is the time frame in which it would take.
Im looking for something this side of christmas, secured would take alot longer to arrange anyway, wouldnt get it in time i dont think.

Thanks

Neale

leespot

hmm, I'm not sure how long it might take to be honest. My dad took a loan out to buy his boat, and they said secured or unsecured, would have taken the same amount of time (Lloyds TSB I think) Anyways it took less than a week. Hope you get sorted!