Loans for bad credit

Clare1981

Thank you. I knew that about applying for too many loans which is why I thought I'd ask here rather than just keep applying for ones that are no good. I guess we'll just start saving, just wondered if there was a way round it.

We have a few defaults on our account which are due to come off over the next 12 months but Im not sure how much of a difference that will make to our credit rating �� We shall see I guess! Thank you x

Clare1981

We rent he property so makes it abit more difficult. We have looked into disabled facility grants but haven't had much success ��

19lottie82

OP I really wouldn't advise spending so much on home improvements if renting, your LL is free to apply for possession of the property once your lease expires, even if you've done nothing wrong. How would you feel if you spent all that doing up the house and six months later you had to leave, and continue paying the loan?

Apples2

Forgive my ignorance but why do you want to spend £7,000 decorating someone elses house?

I'm all for a pot of magnolia or a hedge trimmer but £7k???

You could spend significantly less than that and move into a house more suitable.

DCFC79

Clare1981 wrote: »

We rent he property so makes it abit more difficult. We have looked into disabled facility grants but haven't had much success ��

It takes until reply 13 for us to get more info like your renting where you live, that is a different kettle of fish than if you actually owned your own house, I assumed you owned your own house as you mentioned about making the improvements.

I take it you got permission to make what chnages ou have made to this point ?

Oh and I agree with Apples post above.

Clare1981

I thought I'd replied to this? Anyway, I say we 'rent' its abit more complicated than that. My Dad owns the house, our mortgage was so high that we were really struggling. My Dad bought the house from us and got a really good mortgage and we now pay him the mortgage payment each month. The idea is we buy it back off of him in within the next ten years at the price we sold it to him for, any money made on the house will be ours to keep.

In his eyes the house is ours but really, it isn't! We maintain the house and do not rely on him for anything which I guess is quite different from privately renting.

We are allowed to do as we like with it so yes, we have permission to do the improvements. We are looking to convert our garage which will hopefully put value on the property so the money will be well spent.

worried48

You're not seriously considering spending thousands of pounds improving someone else's property???

As for bad credit loans, I tried a year or so ago. Hopeless. Nothing but brokers (charging £70 a time - fortunately I didn't fall for those but many people do), payday loans and guaratnor loans. One company were willing to offer me a payday loan of £70 (wow!) and another wanted a guarantor to lend me £500. Seriously. And I had nothing showing on my credit file that was worse than a payment made late (you now, where it says 1 on your file).

Clare1981

Please see my last message...

worried48

Yes it overlapped with me typing my post. Strangely enough you're in almost the same position as I am - I'm living in my father's house too, only in my case it's rent free. Still, you can't afford to do the house up and that's that. If it is even mortgageable it's probably in a better state than my place!

DCFC79

OP ive now read what you posted in the other thread, you really should have mentioned teh fact you rent plus who the owner is and in this case its your dad.