Short term £50k loan

planteria

interesting thread.

i need to raise 50k within the next few days to repay a Directors Loan. funds will be available again, to repay a lender, on 1st January. i can raise part of it from MBNA, but they aren't offering great terms at the moment.

danielhermann

Can you not get a loan against the GBP 60 k which is to mature in May. If it is principal protected, I don't see an issue. A mortgage is a time consuming and expensive proposition, but this should work in your interest.

planteria

i don't understand, sorry

part of this thread has now been removed, anyway.

dktreesea

See if you can get bridging finance, just for the period that you need it.

planteria

thanks.
tried, but Barclays weren't able to arrange quickly enough.
they put me on to Freedom Finance, within the branch, who came up with a useless deal:think:

somethingcorporate

Looks like poor terms are better than no terms if you are really desperate.

planteria

yes.. but if it wasn't repaid then i would have been able to get my accountant to work on it, and it would have been sorted by some means or other.
i was very keen to repay, to keep all clean & neat & tidy.
and it will be, i sorted it.
Merry Christmas:)