Loan company taking money from us for no reason please help!!!!!!

Fruit_and_Nut_Case

Clare1981 wrote: »

It's for home improvements, it is pretty necessary ��

Do you have a mortgage? Can you increase the borrowing? That's a very cost-effective way of getting money for "pretty necessary home improvements".

Clare1981

We are looking at around £6k. There are too many things to list that need doing sadly, new carpets being amongst them but not top of the list! We can afford to save a few hundred a month but some of the jobs are urgent.

Clare1981

Yes we manage to save Apples2 but the money we have saved has now been spent on some of the things on our list and car repairs.

Clare1981

Sadly we don't have a mortgage as that would have been a great way to borrow ��

worried48

SADLY you don't have a mortgage? Unless you are paying rent (in which case you wouldn't be paying for the improvements, surely?) you're in a hugely advantageous position. As it happens, I'm in exactly the same position - no rent, no mortgage, house in a desperate state (virtually untouched since 1980) but I'd have to be far more desperate before I'd put a secured loan on any property that didn't already have it. Just live with it as it is, honestly, unless it's actually dangerous to live in, you can do it (What's a carpet? What's wallpaper?)

Clare1981

My Dad owns the property, he has the mortgage, we pay the payments. The idea being we buy the property back off of him when our credit rating has improved and we can get a decent mortgage. We had a mortgage on the house but it got so high we were struggling. Any money made on the property since we sold it to him will be ours.

We could live in it I guess but we don't wish to, we want to get our garage converted and it will be a good way of bunking up the value of the property. It's not so much a carpet or wallpaper, our 3 sons share a bedroom, one has special needs and is keeping the others up at night. It's effecting us all so much and their school work is suffering. My middle son has autism and he really needs his own space. Still, I know it's not completely necessary but we feel it would changed our lives dramatically and it's something we really want/need to do.

worried48

I realise that must be a difficult situation but I'm not sure it's going to be a simple matter to solve the problem - what guarantee is there that he'll actually stay in his own room when he wakes up?

Clare1981

He will! I know my son and if he doesn't be will only come looking for me! It's not just about the nights, he needs space in the day to go and calm down if need be or he likes to be by himself sometimes to play with his cars and gets extremely distraught if he's not left alone. Anyway, we will start saving I guess! Thank you!

worried48

Well that is certainly difficult I assume you only have two bedrooms? I suppose that's probably a silly question.

Clare1981

Not at all, we have 3! We have a little girl too! She's in the tiny box room on her own and obv we are in the other room!