Need loan ASAP - no job

zeitgeist.beagle

Hi everyone.
I am in a dire situation at the moment, which a loan could completely change.
I bought my first house 18 months ago with my ex girlfriend and since May 2010 I have been responsible for all the mortgage (since we split up).
In August 2010 I was made redundant and have been searching for a job since - I have a specialised degree so jobs are hard to come by which tailor to me.
I have been living off £5000 of personal savings since then but just before Xmas I went into my overdraft for the first time in 6 years - which for me was very embarrassing and demoralizing experience, since I have always pride myself on being financially independent. I have been searching for jobs well outside my typical commute zone in desperation but recently my car also broke and don't have the money to repair it (when its rains, eh?). I reluctantly applied for a loan with my bank (Santander) on the 28th Dec 2010. I have never had any type of loan before, when I was a student I worked 40+ hours in a fast paced retail outlet to pay off my courses myself because I didn't want the debt, and I've never had any credit cards because I like to live within my own means.
But the situation as it stands is that I'm 2 months away from losing my house and being homeless. I thought now is the time in my life if there ever was one to get a loan, which I could pay off with the loan money itself until I find a job again. I have not been out of work for this long but where I live 1 in 6 is unemployed and my specialised field of work seldom advertises jobs. I have sent my C.V. for jobs such as cleaners just so I can get a bit of money in but 9/10 they don't reply and one replied saying I was "overqualified" to be a cleaner and didn't seem to take my application seriously/
I am really starting to panic now regarding money and a letter received yesterday told me my loan application was unsuccessful since they do not lend to the unemployed.

Is there any where I can turn to for help? Other loan companies etc? I have worked so hard for everything in my life, and buying my first house was a really proud moment for me. I don't want to lose it for the sake of missing a few months mortgages when I know for certain I will have a job by summer.

Any help at all is appreciated.
Thanks.

ILW

You will not get a loan, have you spoken to your mortgage company?
Did you have any PPI?

custardy

you have bene unemployed since August
Are you claiming JSA?
no mortgage cover?
contact your mortgage provider now
nobody will give you a loan in your situation,so look at more realistic solutions

CLAPTON

are you claiming JSA and other benefits?

chesky369

Can you take in a lodger? Is your property in negative equity? If not, you could sell it which would avoid you 'being homeless'.

agrinnall

As ILW says, you are not going to get a loan, who would lend to you when by your own admission you have no money and have already gone into your overdraft so there's no way you could repay the loan.

Is there any equity in your house? If so then you really need to sell it and take that equity while it's available, if you don't do that then the mortgage company will foreclose and you may end up with nothing. I would suggest that you post on the Debt Free Wannabe board for advice on how best to manage your situation.

Emmzi

it sounds like you are only looking for jobs in one profession but in different regions of the country.

you need to apply for *any* job!! these are not times to be fussy.

you won't get a loan. selling the house may be best.

opinions4u

I bought my first house 18 months ago with my ex girlfriend and since May 2010 I have been responsible for all the mortgage

While you may have assumed respnsibility for the mortgage payments, the legal position (if the property and mortgage remain in joint names) is that the commitment is joint. If you don't pay, the lender can go after your ex-girlfriend for the money.

You do need to talk to your ex about the situation. You may well end up in mortgage arrears in the near future. If you do, it will not only damage your credit history but hers too.

While you may not want her help with the payments, she has a right to understand your financial position and how that could impact on her. From that she can make decisions about what contribution, if any, she can make to the mortgage account.

This isn't about pride anymore. It's about practicialities. Pursue the benefits route if you haven't already. Talk to your ex, even if it's awkward. Take it from there.

Keep applying for jobs of any sort. Get a paper round. Consider putting the house on the market.

Oh, and in answer to your question about getting a loan, don't be so silly. That will make a difficult situation much worse.

DCFC79

[STRIKE]You have been looking for over a year[/STRIKE], [STRIKE]well first thing that you should have figured out by now is that a job that is related to your degree so[/STRIKE] apply for any job thats going whether its working in a shop, barman or maybe a waiter in a restaurant or a hotels restaurant, take on 2 part time jobs that dont clash eg a job in the evenings (pub/bar) and a job in the day. Do whatever it takes to bring some money in.

A loan isnt a solution to your problem(not that you would get 1 anyway) as theres no guarantee that you would get a job within 2 weeks to start paying off the loan as you could be looking for work in the specialised area for months on end. Maybe maing your cv so it makes your look not as qualified as you are is a good idea.

A lodger sounds a good idea, you got any friends who are looking to rent a room ?

LovelyLeeds

zeitgeist.beagle wrote: »

I have sent my C.V. for jobs such as cleaners just so I can get a bit of money in but 9/10 they don't reply and one replied saying I was "overqualified" to be a cleaner and didn't seem to take my application seriously.

Of course they're not going to take your application seriously. You need to tailor your cv appropriately to the jobs you're applying for, so whilst applying for unskilled/unqualified jobs, dilute your qualifications, even leave them off altogether.
As has already been advised, rent out a room or two.
Bar jobs are so easy to get - not well paid obviously, but better than getting a loan surely?

Apples2

I read as far as, "i need a loan so I have money to repay the loan" bit.