We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
first time buyer
Options
petehall
Posts: 3 Newbie
myself and my mrs are looking at buying our house, we currently have 2 personal loans balances of 4750 and 3787 and our overdraft is 4k, this has been run up while shes been a student shes now qualified.. credit card = 0 currently have around 1k free cash a month.
our plan is to buy a house for 130 - 160k but to do this get a personal loan for 25k to cover deposit and above consolidations over 7 years. .. just wondering if anyone had any better ideas as we would like to have another child (got one)
Pete
our plan is to buy a house for 130 - 160k but to do this get a personal loan for 25k to cover deposit and above consolidations over 7 years. .. just wondering if anyone had any better ideas as we would like to have another child (got one)
Pete
0
Comments
-
Hi Pete and welcome to MSE
Not going to happen - no lender will accept a personal loan for a deposit.
You need to accept that buying a property isn't viable at the moment and work on a) Reducing your debts and then b) saving for a deposit.0 -
You're welcome Pete.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards