My daughter needs a loan for a rental deposit with no credit rating

dancingfairy

I would suggest a combination of things:
1) a credit union for a loan - see what the criteria are in your area. Some require you to sae for a few months (even a pound a month) before you can get a loan, others have less strict criteria.
2) Go for a 2 bedroom house and get a lodger or better still hosueshare.
3) Get her on to the oldstyke board on here where there are such threads as feed 2 adults for 7 a week (clearly this might be a little overkill in her situation but there are plenty of threads on how to eat as cheaply as possible) which will allow her ot build up a deposit as soon as possible.
4) Can she get a christmas or evening job? even 1 shift a week in a pub or a saturday job will get that deposit quicker. It depends on how desperate she is.
5) can she ebay/car boot anything to help?
6) Has she got any luxuries she can cancel - magazine subscriptions, charity subscriptions etc to get her deposit sorted? She can always restart when settled.

Best of Luck
df

j.e.j.

I am not sure where OP's daughter is living, but certainly if you're in the South East £550 per month all inclusive is very reasonable. In the city near to me it's not unheard of for landlords to charge £900 per month for a small flat, and that's just the rent!!

She could try for a house-share, though it's not for everyone (after all if you're going to have to live with difficult and annoying people, why not just stay home with your family and save up some money :rotfl:)

I think it's a case of either staying put in the cold caravan (maybe get a wood-burner or something to heat it over the winter months) or applying to the bank for an overdraft. If she's needing to borrow money, she'll of course need to budget for paying it all back again.

I hope she's got rid of the dodgy loan company, anyway.