I need a small loan...

CDaniels1987

Me and my partner are about move into a long term rental house, its a brand new house that was only built last year, only problem is because its new it has nothing in there, the rental house were moving from now was just a six month contract which runs out on the 1st of feb which had most appliences already there, we cant get a mortgage so we were looking for a house that we could sign for at least 12 months. We managed to find that and the landlord has said we could rent it for longer once the 12 months is up, he has said we can decorate how we like and treat it as our own home, which is great, only problem is we have now got to buy a cooker, fridge freezer, washing machine, curtain poles and more, I have worked out I need about £1500 all together, only problem is I dont have very good credit, I had quite alot of debt in the past and i currently owe £400 on my overdraft which my bank have taken off me, soo all together i'm looking for a £2500 loan roughly to help with buying stuff for the house, paying my overdraft off and then having some left over.

I currently earn £19,000 a year, and my partner earns £14,000, after i have paid my half of the bills and rent etc I am left with about £600 which means I can easily afford a loan so we can get the stuff asap, the only loan I have found is with FLM loans but I need a gurantor and nobody I have asked trusts me because of my past.

has anyone got any ideas what I can do?

thanks in advance.

50quidonRED

£600 spare ? x 4 months = 2400

you dont need a loan

dougyd

Can you not use freecycle in the first instance to get your basics and then replace furniture as you go?

This will get you by in the short-term and save you money which would be wasted on interest payments.

CDaniels1987

£600 a month spare if I dont do anything, I cant physically go 4 months without spending any money at all. ill probably ask my brother who close with if he will be my gurantor.

chalkie99

You've got a bad credit record and no-one who knows you trusts you because of your past.

You have £600 a month spare and yet you still want to borrow enough to have a "spare £600"! Why!

"You can easily afford the loan" - is that what you said before you got the bad credit record? It is something which appears on these forums about as often as "I could easily afford the loan but then my circumstances changed......."

CDaniels1987

my bad credit comes from when I was 18/19 and earnt £600 a month tops on a part time job, I am now 23 nearly 24 and I have a career earning decent amount of money, which is how I know I could afford a small loan, I have spent the last week working everything out, outgoings and earnings.

jon_boy75

dougyd wrote: »

Can you not use freecycle in the first instance to get your basics and then replace furniture as you go?

This will get you by in the short-term and save you money which would be wasted on interest payments.

this is very good advice, freecycle is excellent. I've given away a tumble dryer, dining table and chairs, lamps, kettles, irons etc

other than that, Gumtree is also good for cheap stuff for your house

the 3rd option is to get into debt with a sub-prime lender

please let us know which one you go for!

Gothicfairy

ebay is also good if you look for badly listed items or things that might need a small repair.

I got a leather couch for £17.99 3 seater, perfect to look at but missing one leg. Easy to fix and it looks as good as new now.

As others have said freecycle and freegle are worth a look and your local paper /shop as they often have things that people are trying to get out of the house because of the size and want it gone asap so offer it for really low prices.

Charity shops also can be worth a check for furniture and curtains etc.

Try to do it without a loan as it will be better in the long run, and I speak as someone with debt because of stupid things like this

awaytogoyet

I'm totally with 'GothicFairy' on this one & I speak from bitter experience too! These days (after seeing the light) I can totally refurbish/kit out a room beautifully for a couple of hundred absolute max!

I hate to sound like the 'Prophet of Doom', but in today's uncertain economic climate, you can have a great well-paid job one minute & be unemployed with poor prospects, the next. I hope to God it doesn't happen, but if it did you would be cursing owing £2,500 on furniture which then has very little 2nd hand value! Hence why you can pick it up so cheaply - sadly a lot of people have found themselves in this position!

Like others have said, if you try Freecycle etc., local Newsagents & papers for Ads, Ebay, local Auction Houses, Charity Shops etc. etc. - you will find great things for next to nothing (I've even been known to 'rescue' stuff from Skips!)
Look at the 'Grabbit' section on this Forum & you'll see some real bargains in cushions etc., which can add the finishing touches.
And - do you know what - it's actually a lot more fun! You get an enormous sense of satisfaction when you've done it - plus the money you would have spent can go into savings for a deposit on a house in the future (if that is what you want) or a 'rainy day'.
You'll feel so much more relaxed about it.
The other great thing is if you accidentally rip the sofa - the fact that you are not still paying for it makes you feel much more 'chilled' about it - it's quite liberating actually!

Some friends I know enjoyed it so much - they took it a stage further and did furniture restoration/decoration, to sell, as a sideline - they've done really well out of it.

Lots of luck with it - pleeeeeze learn from our mistakes & avoid debt & live & love your life.

Gothicfairy

As Awaytogoyet has said, it can actually be great fun.

I love car boot sales and bought a horrible pink celtic mirror but with a bit of pant and some fun it now has pride of place in my living room and will be going on ebay when we are moving , so who knows I might even make a little on it and as I bought it for 50p even a quid would make a profit so can't say fairer then that can you.

I now really enjoy looking at things and thinking what I could do with it..Makes in more personal and I think makes a house a home.

telboyo

Recently I was working away from home and it was cheaper to rent an unfurnished unheated flat for £500 pm than stay in digs- I amanged to furnish for very little. Gas cooker ebay £60- Washing Machine free with a broken door handle repaired for £5.00. Table chairs and settee from charity shop £50. I bought my own bed as I don't like the idea of of sleeping in some body else's bed.