Loan for a 18 year old

lailastaf100

Hi guys, please before you leave any negative/horrible messages, understand where I'm coming from.

I am 18 years old and am looking for a loan of about £5000. I have a large birth mark which covers my whole back and makes me extremely self conscious, I consulted a doctor and he said I could go on the nhs waiting list to get it removed but I could be waiting years. After privately going to see a surgeon, he said that due to how big the birth mark is (basically like a massive mole which covers my whole back) it would cost about in the region of about £5000 to be removved.

I am currently on working as a apprentice where I earn about £700 a month. I know I could save up but with other expenses (car etc), i feel like it would take me forever and at the moment, with it being almost summer, I am feeling very low about it. Although my mum earns a decent wage, she doesn't have enough money to pay for the procedure.

Is there anywhere I would be able to get a loan for about £5000 with little to no credit history at my age? I am very confident that I would be able to pay it back as I live at home and don't have too many additional expenses. Thank you again for your help.

sharpy2010

lailastaf100 wrote: »

Hi guys, please before you leave any negative/horrible messages, understand where I'm coming from.

I am 18 years old and am looking for a loan of about £5000. I have a large birth mark which covers my whole back and makes me extremely self conscious, I consulted a doctor and he said I could go on the nhs waiting list to get it removed but I could be waiting years. After privately going to see a surgeon, he said that due to how big the birth mark is (basically like a massive mole which covers my whole back) it would cost about in the region of about £5000 to be removved.

I am currently on working as a apprentice where I earn about £700 a month. I know I could save up but with other expenses (car etc), i feel like it would take me forever and at the moment, with it being almost summer, I am feeling very low about it. Although my mum earns a decent wage, she doesn't have enough money to pay for the procedure.

Is there anywhere I would be able to get a loan for about £5000 with little to no credit history at my age? I am very confident that I would be able to pay it back as I live at home and don't have too many additional expenses. Thank you again for your help.

Hi there, sorry to hear that you aren't too happy at the moment, I hope that the issue gets sorted.

As far as a loan for £5000 for an 18 year old with no/little credit history, unfortunately times are much more strict than they were 10/15 years ago when you would have got it pretty easily.

These days I would think its not likely at any bank, so my advice to you today would be to get a couple of easy to get credit cards (Vanquis and Aqua would do nicely). Run these well for 6 to 9 months, and then apply for a £5k loan if circumstances haven't changed.

Its not a definite way to get accepted, but it will certainly stand you in good stead.

I hope that helps a little.

nbc

Ever thought about getting some counciling while waiting to be seen on the NHS. Putting to much enphisis on body image speaks volumes on your current mindset.

It's just a birthmark, nothing more, nothing less.

shortcrust

Well first off, get on the NHS waiting list now. Waiting times may be shorter than you think or you may be able to get an appointment sooner because of a cancellation. If you choose to go private then just get yourself taken off the list.

I completely understand why you want this done. I used to have some massive moles on my back. I was really self conscious and that stopped me from doing a lot of things like swimming, going to the beach and so on. Perhaps counselling would have helped me but I'll never know because I had them removed. That definitely helped me!:)

Sharpy gives good advice about how to go financially. Build up your credit history and save up while you're doing that. Saving up will also allow you to be sure that you can manage loan repayments.

gb12345

sharpy2010 wrote: »

As far as a loan for £5000 for an 18 year old with no/little credit history, unfortunately times are much more strict than they were 10/15 years ago when you would have got it pretty easily.

These days I would think its not likely at any bank, so my advice to you today would be to get a couple of easy to get credit cards (Vanquis and Aqua would do nicely). Run these well for 6 to 9 months, and then apply for a £5k loan if circumstances haven't changed.

Its not a definite way to get accepted, but it will certainly stand you in good stead.

With a salary of £8400, he will never get accepted for a £5000 loan (even more so in future if he also has additional credit available on credit cards). The Loan:Salary ratio is far too high.

sharpy2010

gb12345 wrote: »

With a salary of £8400, he will never get accepted for a £5000 loan (even more so in future if he also has additional credit available on credit cards). The Loan:Salary ratio is far too high.

And therefore your solution is....?

gb12345

sharpy2010 wrote: »

And therefore your solution is....?

There is no solution for him - he will not get a 5k loan on the salary he is on regardless of what he does to build up a credit history.

In 6 months time after building up credit history, he might be able to borrow 3,500 (depending on how much credit card credit he has).

Only other option is to get a better paid job.

sharpy2010

Basically then, saving up £1500 and hoping that getting credit and using it responsibly now, should allow access to roughly £3500 to make in total the £500.

You know what you need to do OP :-)

gb12345

sharpy2010 wrote: »

Basically then, saving up £1500

Yes, but then you have to ask why if

lailastaf100 wrote: »

I live at home and don't have too many additional expenses.

he doesn't appear to have any savings at present.

sharpy2010

Young and irresponsible most likely, that would have been the case for me at that age anyway, although everyone is different.

chesky

lailastaf. shortcrust is absolutely correct that you should get yourself on the NHS waiting list a.s.a.p. Now, remember, that GPs are nowadays in the business of trying to deter anyone from doing this - trying to keep the numbers down for the government. The important thing is to badger away at them to get them to refer you to the hospital. That's the difficult bit, so when you next see your doctor, be sure to tell them how depressed it's making you feel and how it's impacting on your life. Do this regularly - don't let them forget about you and say that you need counselling to help with your depression. It's the patients who keep on and on who get referred, just to get rid of them.

Don't waste your money on private treatment - remember, the doctor you saw privately could well be the person who operates on you on the NHS!