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first time buyer
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
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