Loan for Travelling

ertai999

Hello

Does anyone know anything about getting a loan to go travelling?
Due to change in circumstances I'm looking to go travelling to Australia for a year.

At the moment I'd say that my finances were alright - hopefully by the time I go it will be down to about £1500 debt.

I am looking to work when I get out there, however the first month or two I'd be looking to relax and take time out.

How do loan companies look towards giving loans for travelling/gap year? Do any offer deferred payments for a few months?

dmg24

Would it not be a good idea to clear your current debt before creating more debt unnecessarily? I can't help but think that you are going to end up in a mess by going down this route.

ertai999

that would be a good idea... but I NEED to get away.

Thinking about it, I'd sell car and get house rent deposit returned, that will near about £1000.

dmg24

We all need to get away at some time. However, unless you want to end up in a life of debt, you need to face up to your responsibilities here rather than running away.

ertai999

thanks, but lets just go with the option of going for the sake of this post?

I will of course be looking at all the options when I know them

CLAPTON

I know of no company that allows loans with deferred payments except for a career develop loans that usually depend upon doing an approved uni course.

Robert_Sterling_3

Some people get away from it all by joining the army or the foreign legion.

blue_haddock

I very much doubt you would get a loan to go travelling in the current climate.

Think of it from the banks point of view - give someone ten grand to go overseas and then never see the ten grand again again.

chambta

The only way you'll do it is to take a loan on normal terms and leave sufficient in the account to cover the repayments whilst you're away. Not that this way is encouraged by anyone; least of all by the bank that lends the money. Oh and it may well mean that you have to be 'creative' when asked the purpose-if indeed you are. Then potentially you're on slightly dodgy ground.

maninthestreet

ertai999 wrote: »

thanks, but lets just go with the option of going for the sake of this post?

I will of course be looking at all the options when I know them

This sounds like a WANT, rather than a NEED.
What are you trying to run away from by going abroad?

ertai999

Again thanks for the comments people

OK true it would be more of a want than need... it's not like I am in trouble or anything here, just want to get away for a while... chill out and enjoy life for a year.

I think I might have to be creative with my applications, I guess I could say is for a car and they'd be none the wiser as long as I keep up repayments - shouldn't be a problem, like I said I intend to work whilst away.

And as much as it would be nice to run off to another country with ten grand (or five as I'm thinking) and never have to pay the bank back again... I unfortunately am a realist and will return lol

Think the options at the moment are to take a smaller loan, say £2k and then have an interest free card for spends etc which hopefully I won't have to use so much. That way, I can be pretty flexible with it and hopefully I get a job pretty quick off then I wouldn't be owing more than the £2k (which I'd be paying back monthly anyways)