Need To Get £100,000.00

MORE_MONEY_MORE_PROBLEMS

Hi all just discovered this site today its fantastic!!!

I need to borrow £100k in the form of personal loans, so far i have applied to the follwing companies and got £61,500.00

Britannia BS £25k 7yrs 6.3% + £6000 credit card
RBOS £25k 7yrs 6.3% + £5,500 credit card

i have also applied to the following companies and am still waiting for them to get back to me

Marks and Spencers= declined
GE Money= waiting (instinct tells me its gona be a no)
CO-OP= waiting (might get it but at higher rate)
LOMBARD= waiting (might get it but at stupid rate)

i am 28 excellent credit history earn £120k per annum, my last on-line credit score from experian was 980 points, i have got 3 active credit card accounts which i dont use and 3 settled accounts, never missed a payment.

So my questions to you are in the very likely case that my remaining loans dont come through how long should i wait before appling else where, i already know that it takes 12 months for a search to drop off. if i apply after 6 months would i have a better chance then now or do i have to wait 12 months.

I take home £6355 after tax per month and have 0 financial commitments so i can keep up repayments no problem, i have got family issues so that is the reason why i need the money incase anyone is wondering.

look forward to any replies.

AMILLIONDOLLARS

Family issues!:cool:

best look at this thread first

http://forums.moneysavingexpert.com/showthread.html?t=76953


AMD

Rafter

Unlikely that anyone will offer you that much through normal channels without some sort of security on an asset such as your home.

Given your income you could try some sort of private bank or personal bank manager, but again they will be looking for security.

You are asking for 100% of your annual income (before tax) unsecured, which is achievable over time, but highly unlikely in a short period.

R.

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Got the accepted letter from CO-OP today as expected they have given me a higher rate af 13.2% apr is there anything i can say to them to bring the rate down, if not im going to accepted it as they have only given me 7 days to get the form back to them.

On the other hand i got my credit agreement for my RBS credit card £5,500 and have not recieved the paper work for the £25k loan. When i applied for the loan online on the last page it asks you if you wish to apply for a credit card so i did half way through it i got into a muddle and started to hit the 'back' button, long story short i think i only applied for the credit card and not the loan, so thats out the window.

total so far

Britannia £25k + £6000
RBS £5,500
CO-OP £25k

=£61,500 where i was tha other day.

will keep you posted

Rafter

Re your question on the other thread - need to wait about 3 months before any other applications. The amount you have made will suggest to lenders you are desperate and will lead to automatic declines.

Unless you have an asset like a house to secure a loan I think you have reached a ceiling.

I know you said family issues were why you needed £100k but are you sure you can pay it back and that your £100k income is guaranteed enough to take that risk?

R.

doitmyself

MORE_MONEY_MORE_PROBLEMS wrote: »

Hi all just discovered this site today its fantastic!!!

I need to borrow £100k in the form of personal loans, so far i have applied to the follwing companies and got £61,500.00

Britannia BS £25k 7yrs 6.3% + £6000 credit card
RBOS £25k 7yrs 6.3% + £5,500 credit card

i have also applied to the following companies and am still waiting for them to get back to me

Marks and Spencers= declined
GE Money= waiting (instinct tells me its gona be a no)
CO-OP= waiting (might get it but at higher rate)
LOMBARD= waiting (might get it but at stupid rate)

i am 28 excellent credit history earn £120k per annum, my last on-line credit score from experian was 980 points, i have got 3 active credit card accounts which i dont use and 3 settled accounts, never missed a payment.

So my questions to you are in the very likely case that my remaining loans dont come through how long should i wait before appling else where, i already know that it takes 12 months for a search to drop off. if i apply after 6 months would i have a better chance then now or do i have to wait 12 months.

I take home £6355 after tax per month and have 0 financial commitments so i can keep up repayments no problem, i have got family issues so that is the reason why i need the money incase anyone is wondering.

look forward to any replies.

This is interesting from the perspective that someone earning £120k at 28 has gotta be a pretty smart cookie, and many people will have attained credit facilities approaching the £100k level on far lower salaries, over a period of time of course. But, whatever the family reasons are for wanting or needing the money, attempting to make it up from a patchwork of credit apps to different lenders can't possibly be the smartest way to go about it.
How much equity is there in your house? A re-mortgage may well be the cheapest, easiest way of raising the money and managing the debt

AMILLIONDOLLARS

I am going to be brazen, we don't know you, your real name, who you are, so you shouldn't have any problems answering this question

WHAT IS THE FAMILY REASON WHY YOU WANT TO BORROW £100K

you've been asking all sorts of questions on this forum about borrowing this money and your applications, the least you can do is give us the reasons WHY:D

AMD

doitmyself

AMILLIONDOLLARS wrote: »

I am going to be brazen, we don't know you, your real name, who you are, so you shouldn't have any problems answering this question

WHAT IS THE FAMILY REASON WHY YOU WANT TO BORROW £100K

you've been asking all sorts of questions on this forum about borrowing this money and your applications, the least you can do is give us the reasons WHY:D

Actually OP I wasn't gonna be so brazen but it's a bloody good point! I also haven't read all (any) of your other posts and I'm not going looking for them but the question AMD asks here is quite pertinent and may well yield more appropriate answers than simply 'how do I (instantly) get £100k from a number of diff lenders'..

ITConsultant

In order to get £100k as people have already said you may need to look to secured lending...

However as you say you are £62k in to the process you dont have that far to go.

May I suggest you approach Barclays Premier team... You want the account which is only available for people earning over £100k which I beleive comes with a £30k overdraft...

doitmyself

Why does someone need £100k (house?), or £1k (holiday?), or £1 (hamburger?). There's always a reason but I'll bet there's some hare-brained scheme behind this. Come on OP, what's it all about?

MORE_MONEY_MORE_PROBLEMS

my idiot of a brother borrowed £50,000 six months ago, from lets say 'not so nice guys in the midlands' now they want it back with interest of £50,000 to make a total of £100k.

What they dont know is that he used that money towards opening a restaurant which is doing really well now (total build cost £400k), i have been offered a 25% share for £100k and save his knee caps at the same time. Looking at the 'books' i will be making £3000 a month from my share capital and as the business does better so will I.

I live in london in a house worth £800k and i have a £400k mortgage on it, i own 10 other properties in central London but i am tied in with 2 year redemtion penalties on them and my wife will not let me re-mortgage our home for such a venture.

By taking out these loans it is much quicker than any other method even though it is not the cheapest but no questions/business plans/headache.......

if everything comes through the loans will cost me no more than £1500 a month, while the very same loans will be making me back £3000 a month thats a 100% return, now thats good business, for a few online applications.

hope that answers your questions:beer: