£30,000 Loan on Bad Credit - Impossible?

NeedHelpNowASAP

Within 3 months we can get any amount we need as we will be in the clear i.e. 6 months clearance time for loans etc. We like a house a lot, and we have 95% of the money in cash, but we need an extra £30k.

We have asked our banks and they have said within 3 months etc - But that isnt a choice for us.

We have even been asking people for the loan of £30,000 and we will pay then back £37,000 but even then people think it's not a good investment (even though that's a huge investment if your into investing).

So, are there any companies doing such loans?

sharpy2010

NeedHelpNowASAP wrote: »

Within 3 months we can get any amount we need as we will be in the clear i.e. 6 months clearance time for loans etc. We like a house a lot, and we have 95% of the money in cash, but we need an extra £30k.

We have asked our banks and they have said within 3 months etc - But that isnt a choice for us.

We have even been asking people for the loan of £30,000 and we will pay then back £37,000 but even then people think it's not a good investment (even though that's a huge investment if your into investing).

So, are there any companies doing such loans?

So you have £570,000 in cash for a house, and need an additional £30,000 to complete?

And your bank won't lend you the £30,000?

I think there is something you aren't telling us.

NeedHelpNowASAP

sharpy2010 wrote: »

So you have £570,000 in cash for a house, and need an additional £30,000 to complete?

And your bank won't lend you the £30,000?

I think there is something you aren't telling us.

Sorry, I got that percentage wrong. I'll tell you the figures.

We have £400,000 overall, and we need £30,000 extra.

We missed a mortgage repayment 3 months ago, and we now have a bad score, so no banks loan to us (our banks anyway).

We will have that money within a month or so as we are selling another house.

sharpy2010

NeedHelpNowASAP wrote: »

Sorry, I got that percentage wrong. I'll tell you the figures.

We have £400,000 overall, and we need £30,000 extra.

We missed a mortgage repayment 3 months ago, and we now have a bad score, so no banks loan to us (our banks anyway).

We will have that money within a month or so as we are selling another house.

Ah !!!!!!, its just a case of bad luck then by the sounds of it

Hope you get it sorted!!

jonesMUFCforever

Nobody would turn you down for 1 missed payment with the sort of figures you are talking about.
There is definitely something you are not telling us.

NeedHelpNowASAP

jonesMUFCforever wrote: »

Nobody would turn you down for 1 missed payment with the sort of figures you are talking about.
There is definitely something you are not telling us.

Well bloody believe it, we are told after 6 months from the miss payment we can get ANY amount of loan we want.

Stupid huh?

SimbaSimon

NeedHelpNowASAP wrote: »

Well bloody believe it, we are told after 6 months from the miss payment we can get ANY amount of loan we want.

Stupid huh?

See a good whole of the market mortgage broker.

never-in-doubt

NeedHelpNowASAP wrote: »

Well bloody believe it, we are told after 6 months from the miss payment we can get ANY amount of loan we want.

Stupid huh?

Whoever told you this is talking nonsense - the FOS do not allow the lenders to classify one missed payment as a risk and lenders automatically discount the first missed payment - period.

There is no inbetween, it is fact and whoever told you one missed payment is adverse is talking rubbish, it would have absolutely no impact and no lender can lawfullt decline credit based on one missed payment, it could be for a number of reasons thus it is discounted in its entirety (i.e. ignored).

I have explained it here - look for my post: One missed payment on credit card - help please!

Stageshoot

What about the multiple months arrears from Jan 2010 - Forgotten them?


https://forums.moneysavingexpert.com/discussion/2197307=

And the £990K that Abbey were reclaiming from you?

https://forums.moneysavingexpert.com/discussion/1333617=

hwalkerh

Well spotted VickyHurn.

Obviously they don't really want peoples advise if they just want to lie about the circumstances. Sound like someone playing at property developing with out doing the sums first. I don't blame the banks for not leading any more with the mess they are in

Wonder if the tax man knows about this person running a businesses, i'm guessing not!

leveller2911

Well spotted Vicky,
The probable truth is the OP is a Troll, either that or just plain stupid........Why do these idiots think they can come on here ,post [EMAIL="!!!!"]!!!![/EMAIL] like that and not be found out?........

If they are a genuine BTL then I hope/expect the next Government will crack down hard on these tax avoiders.