Non Status Lender - not on credit file?

moatmeister

Hi everyone.

Any ideas or recommendations of good logbook loan/ payday loan type operators or any other ideas please?

Have regular income and good credit history but need to borrow some money that will not appear on my credit report so as not to compromise a mortgage application for that is going through. Basically did have sufficient cash for deposit initially but due to circumstances beyond my control caused by death in vendors family the whole thing has dragged on and I had to spend some. Problem now compounded by BS putting small retention on to cover some repair work. Raised some of shortfall by borrowing privately but still about £8k short of target. Confident about being able to get "proper" loan after mortgage has been completed, also have credit card availability to get cash or money advance if necessary but concerned that both of these may upset the applecart if BS did a further credit check before issuing funds.

Might be able to raise the balance privately but need a backup plan.

geoffky

you are in trouble here..and you will not get out of it by going near loansharks, 8k is a hell of a lot but banks do loans so ask your own explaining what has happened..cash advance on a credit card..have you taken leave of your senses? how did you spend over 10k..something does not add up here..

moatmeister

Thanks for your reply.

Who said anything about spending over 10k?? not me!

The longer it drags on the more I will be able to save or raise so is a little fuid situation but I need to know I could definately raise the funds if I had to.

Basically £4k short of deposit (total £30k) to include a little comfort zone for any other unexpected bills plus need also to fund £4k worth of unexpected work for retention which could go on card payment to dampproof contractor if necessary but would rather not. BS will release retention to pay it off when work completed so that bit is straightforward.

Apples2

moatmeister wrote: »

Who said anything about spending over 10k?? not me!
.

Because it was all arranged but then you had to "spend some". Now you are £8k short.

There is simply no chance you would get £8k from anything other than a sensible lender.
Is your car worth enough to sell which could make this up?

forget the idea of Logbook loans and Payday loans, they lend nowhere near the amount you are looking for.

moatmeister

Had to spend to resolve family crisis. Car already sold and in the cash in the pot. Currently driving £100 ebay special. Classic car up for sale and might solve problem if it sells in time but dont really want to get rid of it unless I have too, and not prepared to "give it away". Would rather borrow short term if possible

jon_boy75

has your mortgage been approved already? If so, they won't be checking again until the offer expires (usually 3 - 6 months). In which case you could get a normal loan which is flexible and can be paid early

possibly

moatmeister

Thanks for your reply, but I think "possibly" is the operative word here!

Not been able to get a definative answer about that one. I think it depends on the circumstances with individual lenders. Helped a non financially minded friend sort out buying a house last year and the lender definately did do another search before issuing the funds. I saw the credit report.

Its a gamble I would rather not take if there is an alternative solution

izools

It takes 4-8 weeks for a credit agreement / cash advance on credit card to appar on your credit file.

If you do it at the very last minute, and the lender do check again, I highly doubt the account or cash withdrawal would have appeared in time for them to see it.

If you can time the loan completion or super balance transfer from credit card within six weeks of the mortgage company wanting to re-look at your credit files they won't see the amount you've borrowed.

Especially if you borrow from HSBC. They take aaages to update credit reference agencies. Took three months after opening my bank account before it appeared on my credit file...