Raising Funds: Loan+Loan or Loan+Credit Cards?

BlueStringPudding

Hello,

I'm currently trying to raise funds to buy a narrowboat. I need £25k but have been turned down by Egg Loans and Eskimo Loans just last week.

As a last resort I phoned my bank (HSBC) who have conditionally offered me most of the money (as my overdraft and flexiloan are also with them they've had to deduct those from my total borrowing allowance). This means I can raise about £17k from them.

So I still need to find about £8k to pay for the boat. Bearing in mind I have had three recent credit checks, should I apply for another loan with another company (any recommendations?) or several credit cards?

My holding deposit is already on the boat so there is a sense of urgency to raise the money (so I can't wait 3 months between applications for credit).

I earn about £1800 p.m. and the HSBC loan repayments will be around £450p.m. meaning I can easily afford another £300p.m. or so in repayments on the next credit agreement (be it an additional loan or credit cards). My intention is to pay off these secondary credit agreements first as my HSBC loan is easily managed being spread over 7 years at 8.9% interest.

Please advise me on whether I should apply for credit cards (and if so which ones?) or another loan (and if so with whom?) to raise the £8k - bearing in mind I've been turned down twice recently for (much larger) £25k loans? I've never had a credit card before so don't really know how to use them for this sum of money.

Thanks everyone - urgent responses much appreciated.

Lisa