Help !!!!!!

gabriella

Does anybody know the best way to borrow £100,000? Don't think this is possible as a unsecured loan and think we will have to look at a secured one. We run a small business from home, and things have not been going too well at the moment although things are picking up, but this is not helping in the short term. The bank are not being very helpful at all, in fact we will be receiving a foreclosure notice anyday.

financial_solution

Gabriella,

You need to be totally sure you can afford the new loan in addition to your other commitments. However, if you feel you can, it doesnt hurt to consider your options.

However, further info required such as:

Value of property,
Mortgage balance (approx),
Mortgage lender,
Mortgage arrears,
CCJs,
Income levels,
Is income provable,
Other debts secured against property (inc overdrafts etc).

Good luck,

Mark.

gabriella

Thank you Mark, I'm sure that if we get this loan and pay off all the debts our monthly repayments are going to be lower than what we are paying at the moment. The 1 quote we have so far is 8.7%, we are researching others trying to get a better deal!

financial_solution

Gabriella,

I am sure you will do your proper research, especially as you are considering such a big loan. I hope that it gives you the "fresh start" you crave. You may soon be able to sleep again at nights.

Good luck.

mark