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Bad credit loans?
Will try to keep this short without too much rambling 
I bought a house with my ex partner, we have split up and are selling the house, there is no easy way out and the house has to be sold (we've tried to be diplomatic about this but it just wont work out, also financial complications). As the sale is within the 3 year fixed period we're getting hit with some hefty fees from the mortgage lender plus the costs of selling the house and at a loss (the loss is absorbed by the deposit used to buy the house). I have a few small debts totalling £4800, no savings (all spent on the house) and owe another £2500 to family.
In my head its makes sense to get a loan, pay off my remaining debts and have just enough left for a deposit on somewhere to rent when the house sells. The problem is to do this I'd need a £10k loan unsecured over 5 years. My ex has a horrible credit rating and this is having a huge bearing on my ability to get a loan.
Just a note, I have looked at the money side of things and this is a viable option and even saves me money every month on overall repayments.
Are there any reputable lenders out there for people struggling to get credit? Its not that I cannot afford the loan, or even have a bad credit history, its seems to be because of the person I'm financially associated with :mad:
Thanks in advance,
19
[EDIT]
Not long for off the phone to a loan broker (Go Loans) who say they have located a loan for me but require a £55 admin fee ... why does this sound dodgy?
I bought a house with my ex partner, we have split up and are selling the house, there is no easy way out and the house has to be sold (we've tried to be diplomatic about this but it just wont work out, also financial complications). As the sale is within the 3 year fixed period we're getting hit with some hefty fees from the mortgage lender plus the costs of selling the house and at a loss (the loss is absorbed by the deposit used to buy the house). I have a few small debts totalling £4800, no savings (all spent on the house) and owe another £2500 to family.
In my head its makes sense to get a loan, pay off my remaining debts and have just enough left for a deposit on somewhere to rent when the house sells. The problem is to do this I'd need a £10k loan unsecured over 5 years. My ex has a horrible credit rating and this is having a huge bearing on my ability to get a loan.
Just a note, I have looked at the money side of things and this is a viable option and even saves me money every month on overall repayments.
Are there any reputable lenders out there for people struggling to get credit? Its not that I cannot afford the loan, or even have a bad credit history, its seems to be because of the person I'm financially associated with :mad:
Thanks in advance,
19
[EDIT]
Not long for off the phone to a loan broker (Go Loans) who say they have located a loan for me but require a £55 admin fee ... why does this sound dodgy?
Be gone ebil debts!!
0
Comments
-
First thing, check what the credit agency's have on you, and the financial assositons bit. if there are no nasty's such as defaults or lots late payments then you should be able to get a normal loan.
If you do have defaults or lots of late payments then for bad credit loans try
welcome finance or citi financial, as those 2 excepted me when i had bad credit. Expect silly APR's though!
Do not go with anybody who wants an upfront fee, you will almost certainly either not get what your after.0 -
cheers quackers
I'm expecting stupid apr's but i can live with that purely as a means to an end with this not so nice situation.
Sadly after looking both Weclome and Citi have stopped offering loans, which is a pain in the bum!
Be gone ebil debts!!0
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