loan for my old mum, please help!

Questions123

hi folks, first time poster so please be gentle
My mum has come into some money troubles and needs around 25k, she had one years ago secured on her home which was around about 30k for which she paid back a small amount of interest monthly and all was fine and she eventually paid it off. Anyway she needed to do the same again recently and it seems the lender she was with has either gone down the swanny in the recession or been taken over by a larger company I forget which. She's been looking at a few different options as she needs the cash within 2-4 weeks and has found gopher money. ( I've read a few reviews on here and I'm not keen for her to go with them to be honest) basically my question is who is reputable that will lend at that sort of level (it seems like the banks now only lend up to 20k ...which is fine) but are there any places anyone here knows will do loans at good rates which won't end up killing her in interest as the gopher proposal for 20 k has repayments of nearly 500 a month interest only ?!?

CLAPTON

her children are the best bet

arbroath_lass

That's a lot of money. If it is for work on the house could she check to see if any grants are available?

Questions123

Unfortunately we have given all we can, none of us are in a position to get credit and it's not for work on the house. I appreciate it's a large sum but wondered if anyone had any good ideas, she's happy to secure it against her home as her mortgage is nearly paid off but outside of that none of us have any ideas, has anyone gone with a bank recently that has good rates?

arbroath_lass

Has she asked her mortgage company? They'd be her best bet.

Questions123

Unfortunately the mortgage company were unable to get the money to her in the time frame she needs it

arbroath_lass

I'd've thought 2-4 weeks was pretty unreasonable for any company. Can't it wait until she gets the money from a reputable lender? I really wouldn't want to see my Mum going to any other place.

Caz3121

what is her income? is £25k her current debt?

alun4

so little information ..... where has the need come from? what is her income? What arguments would you put to a lender that will give him certainty of repayment and his "profit" ?

Apples2

Can we ask what the money is for?

Is it really your mum who needs it or her offspring, none of which is able to source their own loans?

Questions123

The money is for a debt abroad. Income wise she's on just over 30 k, essentially she purchased a property abroad and it's all gone pear shaped, she either comes up with 25 k or loses 90k which she has put into it over the past 15 years. In terms of debts apart from a grand or so on credit cards she hasn't got any, is a few year from paying off her mortgage so credit status wise is very clean