Personal loan after mortgage

wannahouse

buswoman14 wrote: »

Thankyou for your nice reply! Yes I'd rather do that and just save what I can...however there is no kitchen!!! But ill sort something I'm sure!

can i give you what i hope will be a helpful tip!

we bought a 2nd hand kitchen from ebay- it had granite worktops and was wood cabinets, which we will repaint with a nice farrow and ball colour, and an island bench, along with built in appliances.. and we only paid £399 for it!!!:j

you can get a delivery guy from anyvan etc to pick up kitchens and deliver...a guy that delivered something for me had just moved a kitchen for £130!

we will be installing this kitchen, instead of the 70 yr old kitchen that is there currently and using it for the next number of years until we save up to do a dream kitchen extension.

if you look hard and buy well, you could get yourself an amazing deal...

just buy a bit bigger than what you need so you can juggle units around to fit and improvise the rest..

that way you could have a great kitchen for hardly anything, and no huge debt!


when we do finally build an orangery extension to put our huge kitchen in, i am determined to look until i find a huge hardwood bespoke kitchen someone is ripping out of their mansion, and we will buy that to fit for our dream kitchen, and get a cabinet maker to fill in the gaps....
one things are sanded and refitted and painted its as good as new, and instead of a £60,000 kitchen, we may only pay £2000-£3000 instead!:j
i saw an AMAZING one go recently for £2000, but now was not the right time for us to get that one.

The lady from the used kitchen exchange on ebay, that we bought our cheapie from,said the kitchen in her house was modern and originally £100,000 when bought a few years ago, but someone rich ripped it out of their house and she bought it for £5000 ,so there are deals to have, if you are willing to watch and wait!

seeing as its a money saving website, i hope this gives you some ideas!

jamesd

The best time to apply is any time after completion has happened, even on the same day, while you have not yet moved in to the new place. This way you can still apply from your old place with the same address details and longest possible time at the address, with you also appearing at the address on the electoral roll and all financial records.

Not before completion because a mortgage lender can do a credit check right until completion and withdraw the mortgage.

Remember that there aren't any great penalties for repaying personal loans partially or even completely early from most providers, just the odd month or two of interest. Best to get a nice long term to keep it affordable and overpay once you have taken care of more expensive debt. You're likely to be able to get a ten year term for home improvement work.

buswoman14

Thankyou

They're really good tips! Ill definitely be bearing both in mind! And as its only a very small kitchen I'm sure ill find some bargains!

Foxy-Stoat_3

Whats your disposable income after all the bills and how much are you left with at the end of the money a few days before payday?

That should give you an indication as to how much you can afford to pay on loan repayments.

As a guide, £10k over 5 years at the BEST rate would be around £200 a month...assuming you can secure the best rate and meet the affordability criteria, but with other borrowings you may struggle.

Whats the total unsecured debt? Another £10K may push you over 50% of your gross income, a place where I personally would be worried.