We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Which lenders are lending money??
Comments
-
I feel we are at cross purposes here and would like to clarify for the record.
My established business trades to blue chip companies with a healthy turn over and profit. We needed to upgrade some equipment and cover some training costs. It is to this that the business bank had refused to lend, forcing me to raise the money on a personal front which would not have happened if they had been more flexible in their lending.
The purchase of the BTL property was an entirely unconnected personal venture which has temporarily stretched us but will prove to be a successful venture on both a financial and non financial basis. It is the refurbishment of this that is adding to the cc spend which willbe reduced once it is let probably next month.
I will then be looking to raise some capitol against the increase in value of the house to replace that used for the deposit which is the reason for the extra borrowing requirement0 -
If your business is profitable and you have say 3 years accounts to back you up have you approached different banks?0
-
18 months trading in current form, that is part of the problem, plus had tomove quickly.0
-
moatmeister wrote: »I will then be looking to raise some capitol against the increase in value of the house to replace that used for the deposit which is the reason for the extra borrowing requirement
Days of easy equity withdrawl are over. Banks are looking to reduce risk. With limited funds available the lenders can choose their customers. Personally i would suggest selling the BTL and clearing your debts with the released equity.0 -
I think you should concentrate on living to your means and paying off what you owe before you borrow more.0
-
PrincessCupcake wrote: »I think you should concentrate on living to your means and paying off what you owe before you borrow more.
Since the thread was last replied to back in april I would have hoped the OP would have sorted something out by now.
Why drag up a thread from months back ?0 -
I've not logged on in months and see a thread on p1 that'd I'd replied to. Got me thinking that did (which is far too tiring at the minute
), I then had to read the whole lot back and for absolutely no reason whatsoever.
Great resurrection that....0 -
Things haven't turned out v well for the OP - looks like he had a CCJ logged against him recentlyThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
-
Looks like he never took my advice...Oh well glad i am not him/her...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards