Please Help - high personl loan needed!

palace4583

Hi,

Firstly thank you for reading.

A few years ago, a person who lived with me left me with a lot of debt, and i decided to get a large loan to clear this debt and add value to my property by doing home improvements such as adding central heating.

I took out a large secured loan with First Plus - £23,500, over 25 years as thats all i could afford at the time, and it needed to be done. I have been paying this since.

I live in an upstairs maisonette, and i am now married with my wife pregnant. She will soon not be able to climb the dangerous stairs, and we therefore need to move, but won't be able to buy a new home until next year. We therefore need to go into renting. Our home if sold, the profit is unlikely to pay off the loan.

I have spoken with First Plus, and they won't do any payment breaks etc to help, and need an unsecured loan for the remaining amount of £20,500.

I have over £1,300 expendable cash a month, and i have checked my credit score with Experian which is 999 out of 999, but Nationwide (my bank) will not give me a loan to sort this.

Can anybody please help me. Do you know of any banks / finance companies which will give out such unsecured loans for high amounts? Or have any suggestions?

As you can see i'm really stuck,

Many thanks for any advice or help you can offer.

Rafter

Would your mortgage company give you a 'consent to let' and would it cover the mortgage and loan payment?

That way you could move into rented and the rental income will cover your loan.

Unfortunately getting that kind of loan unless you are earning £60,000 plus is going to be really tough.

Good luck

R.

halifax71

Firstly - did you take out PPI with the loan? If so, reclaim it, even if you've had your 5 year rebate.

Secondly, Firstplus wil not let you sell your house whilst you still owe them. A few people on the FirstPlus Complaints forum are in the same situation.

I don't think there's much you can do about it but it might be worth asking on the forum. No charge, just disgruntled FirstPlus customers.

www.firstpluscomplaints.co.uk

Fiddlestick

palace4583 wrote: »

I have over £1,300 expendable cash a month, and i have checked my credit score with Experian which is 999 out of 999, but Nationwide (my bank) will not give me a loan to sort this.

Can you get consent to rent out the existing property?

Also, if you have £1,300 expendable cash each month then start saving up large amounts to repay the loan in full as soon as you can.

ILW

Why is a flight of stairs such a problem?

Mrsteve87

ILW wrote: »

Why is a flight of stairs such a problem?

Was thinking that.

Why can you not buy a chairlift -even temporaraly?

ILW

Mrsteve87 wrote: »

Was thinking that.

Why can you not buy a chairlift -even temporaraly?

I have seen pregnant women climb stairs, unless there are other mobility issues it does sound as if the OP is getting a little over concerned.

Rossy.

My GF lives in an upper maisonette and had to climb 2 sets of stairs whilst pregnant, It's not an ideal scenario and sure it's uncomfortable for her but i wouldn't pack up and go due to that. You have a home and are secured so going into rented accomodation seems pointless to me