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£40,000 Loan

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TacTic
TacTic Posts: 1 Newbie
in Loans
I need a £40,000 loan for various things, i am confident i can pay this back within 2 years, once a Property i own is sold, but obviously nothing is guarnteed, i am looking for something around £150per Month?

Any Ideas?

Comments

  • Niv
    Niv Posts: 2,563 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    My current idea based on the information you have provided is 'no chance'. But you may earn ~£80k and have no existing debt so there may be some chance. OR are you looking to secure this loan against the property you have?
    YNWA

    Target: Mortgage free by 58.
  • shop-to-drop
    shop-to-drop Posts: 4,340 Forumite
    I would think your only hope would be a remortgage.
    :j Trytryagain FLYLADY - SAYE £700 each month Premium Bonds £713 Mortgage Was £100,000@20/6/08 now zilch 21/4/15:beer: WTL - 52 (I'll do it 4 MUM)
  • Tixy
    Tixy Posts: 31,455 Forumite
    Even with a mortgage the repayments wouldn't be as low as £150 a month. Not even if it was interest only.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • AMILLIONDOLLARS
    AMILLIONDOLLARS Posts: 2,299 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    TacTic wrote: »
    I need a £40,000 loan for various things, i am confident i can pay this back within 2 years, once a Property i own is sold, but obviously nothing is guarnteed, i am looking for something around £150per Month?

    Any Ideas?

    Another person with unrealistic expectations!!!:rotfl:

    AMD
    Debt Free!!!
  • antrobus
    antrobus Posts: 17,386 Forumite
    TacTic wrote: »
    I need a £40,000 loan for various things, i am confident i can pay this back within 2 years, once a Property i own is sold, but obviously nothing is guarnteed, i am looking for something around £150per Month?

    Any Ideas?

    Yes, sell the property now, then you can spend the proceeds as you see fit.
  • barbarawright
    barbarawright Posts: 1,846 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    An interest-free loan for £40,000 would take 266 months at £150 a month to pay off. Even a 25 year mortage would be c250 a month
  • Scorpion3698
    Scorpion3698 Posts: 1 Newbie
    I thought this post was some kind of joke at first !!
  • bargainbetty
    bargainbetty Posts: 3,455 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Do not feed the trolls....?
    Some days, it's just not worth chewing through the leather straps....
    LB moment - March 2006. DFD - 1 June 2012!!! DEBT FREE!



    May grocery challenge £45.61/£120
  • Apples2
    Apples2 Posts: 6,442 Forumite
    It'll be fine if it's just for various things. Anything specific would be no chance.
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    bargainbetty wrote: »
    Do not feed the trolls....?

    So the trolls starve then, thats not very humane is it lol ;)
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