best place for unsecured loan

englishdad

Hi All

I'd like a bit of advice on where to go to get the unsecured £9000 I need to buy a house.

The deposit and costs for this house are about £24K and I have £15K but unfortunately the extra £9/10K that I was due to get from a relative as now fallen through due to health issues so I am left in a position of needing the difference or I will lose my dream house!

Any advice appreciated and any further info I can give please ask

Thanks in advance!!

jonesMUFCforever

A mortgage woukd be your best bet IMO.

englishdad

jonesMUFCforever wrote: »

A mortgage woukd be your best bet IMO.

Very Funny!

Anyone with any real advice?

HAYLEY8005

You will not be able to use a personal loan at all as a deposit for your house no mortgage companies now allow this , so another idea will be needed

zppp

Hayley is correct, not only would a loan be on your credit file when they credit score you at the exchange (this catches quite a few people out) they investigate the depost money, and where it has come from. The mortgage lender will withdraw if they feel there is anything dodgy with the deposit money, including loaned deposit money.

Londonboy_3

It is virtually impossible that you will be able to get the 9k loan and use it to fund the deposit. Choices are therefore:

1. Sell something of value of 9k (do you have a car to sell maybe)
2. Do a deal with the vendor where they pay 9k of the deposit (again mortgage people may not like it)

[Deleted User]

some lenders are offering 90-95% deals again,shop around.

englishdad

Hi All

Thanks for the advice, the position I am in is about 6 weeks away from the house builder (new house) wanting the deposit, kitchen chosen, tiles chosen, carpets chosen, etc, etc, and I'm now about £9K short. The mortgage has been offered but they might of course do another check just before they hand over the money, in which case they would see the footprint on my file but I have no other credit at all on my file and I can easily afford the repayments (myincomeis £35K per year).

Unless I can raise this money I lose the house so I'm open to ANY avenues, even if it means the APR is a little extortionate.

Thanks

paddyrg

How about staging the payment to the builder - mortgage for the watertight shell, then pay separately for the kitchen etc fitting? I'm clutching at straws a bit, but if you can stagger the build stages you may have other options?

Btw talk to the builder, more than anything he wants you to buy this house, he may have some ideas on how you can work things?

zppp

englishdad wrote: »

Unless I can raise this money I lose the house so I'm open to ANY avenues, even if it means the APR is a little extortionate.

I think you are missing the point here. The mortgage company will credit score you before the exchange, as well as vetting where the deposit came from. You can't cover your tracks, as one way or another the mortgage company will find out, and are likely to pull your mortgage AIP. Have you got family who you could borrow from short term?

BugsyBrowne

englishdad wrote: »

Hi All

Thanks for the advice, the position I am in is about 6 weeks away from the house builder (new house) wanting the deposit, kitchen chosen, tiles chosen, carpets chosen, etc, etc, and I'm now about £9K short. The mortgage has been offered but they might of course do another check just before they hand over the money, in which case they would see the footprint on my file but I have no other credit at all on my file and I can easily afford the repayments (myincomeis £35K per year).

Unless I can raise this money I lose the house so I'm open to ANY avenues, even if it means the APR is a little extortionate.

Thanks

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