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need help with loan of 40,000

therenter_2
therenter_2 Posts: 3 Newbie
in Loans
Dear All

I am paying rent and earning 1950 pounds a month. Been in this country for 6 years. I am thinking of buying a property and need a unsecured loan of 40,000 pounds.

Is there a good lender with low repayments that will guarantee to lend me the money I need?

I am willing to pay a finders fee only after I receive the loan.

Comments

  • BASFORDLAD
    BASFORDLAD Posts: 2,418 Forumite
    lol i very much doubt it pal.
    Not unsecured.
    For everthing else there's mastercard.
    For clampers there's Barclaycard.
  • Useless_with_wonga
    Useless_with_wonga Posts: 233 Forumite
    You are unlikely to get anyone to loan you above £25,000 on an unsecured basis.
  • therenter_2
    therenter_2 Posts: 3 Newbie
    Useless_with_wonga wrote: »
    You are unlikely to get anyone to loan you above £25,000 on an unsecured basis.

    I would even be happy with 25,000 pounds as it would be better than nothing. As long as I am guaranteed to get it without being refused.
  • hopefulfooluk
    hopefulfooluk Posts: 2,441 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Why do you need an unsecured loan of £40k to buy a property?

    This is what mortgages are for. DO NOT BORROW FOR A DEPOSIT - you are asking for trouble doing that!
  • therenter_2
    therenter_2 Posts: 3 Newbie
    hopefulfooluk wrote: »
    Why do you need an unsecured loan of £40k to buy a property?

    This is what mortgages are for. DO NOT BORROW FOR A DEPOSIT - you are asking for trouble doing that!

    I can't get a mortgage as I don't own a property. I am new to this and need some advice. A loan is the best option for me.
  • hopefulfooluk
    hopefulfooluk Posts: 2,441 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    therenter wrote: »
    I can't get a mortgage as I don't own a property. I am new to this and need some advice. A loan is the best option for me.

    So what do the millions of other first time buyers do?

    They don't go and get £40k loans willy-nilly that's for sure...

    Also the "guaranteed, no questions asked" thing is ringing alarm bells here - a bank would lend it to you if you were creditworthy. If you are not creditworthy, then perhaps you should be rethinking your strategy as getting £40k off a loan shark to buy a house isn't one of the better ideas I have heard...
  • Enfieldian
    Enfieldian Posts: 2,893 Forumite
    Part of the Furniture Combo Breaker
    Good luck.

    Could you get one for me too while you are at it?

    Thanks.
  • Apples2
    Apples2 Posts: 6,442 Forumite
    Surely you live under a Bridge (not in Cumbria is it??)
This discussion has been closed.
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