Loan maybe in 1 year approx £10,000 ?

pearls_of_wisdom

Hi, ist post on loans,just at start of credit building on electoral roll last 3 years,1 month ago opened current account,yesterday 12 month phone contract, i have no debts-no credit cards-will be applying for credit card soonish,i'm self employed earnings upwards of £30,000 but will require a loan of approx £10,000 next year i'd love to get it now but i know that's,not possible so any advice on sensible things to do over next year leading to gaining loan would be ver much appreciated:)

intranicity

Easy one.... Start saving now, then you'll be able to go to your bank and show them that you can save and that that money is surplus, PLUS you won't need to borrow £10k then as you'll already have a good chunk set aside

pearls_of_wisdom

intranicity wrote: »

Easy one.... Start saving now, then you'll be able to go to your bank and show them that you can save and that that money is surplus, PLUS you won't need to borrow £10k then as you'll already have a good chunk set aside

i'm going to need £10,000 approx in addition to saving from my earnings

jackieblack

You should still save an amount every month of at least the amount you anticipate the monthly payment on the loan would be.
Will show that you can afford loan payments.

pearls_of_wisdom

jackieblack wrote: »

You should still save an amount every month of at least the amount you anticipate the monthly payment on the loan would be.
Will show that you can afford loan payments.

excellent clear cut point many thanks:T

serverking

You could open a business account, and in six months they would be happy enough to lend you the money. Sounds like you really know how to look after your money, I'm sure you'll do well. You put us to shame - It's nice to see a thread and not read the words 'Loan Broker robbed me'

Apples2

Start using your credit card as soon as possible.

Use it as much as possible, and ALWAYS ALWAYS ALWAYS clear the outstanding balance at the end of the month.

NEVER ever use your overdraft, even if it is agreed. Keep out of the red and into the black.

Show the computer you are a low risk due to your diligence at repaying debt.

pearls_of_wisdom

serverking wrote: »

You could open a business account, and in six months they would be happy enough to lend you the money. Sounds like you really know how to look after your money, I'm sure you'll do well. You put us to shame - It's nice to see a thread and not read the words 'Loan Broker robbed me'

many thanks i'll enquire friday what business account i may be able to gain via personal bank as i'm self employed i'm surprised bank haven't previously mentioned this to me :)