Loaning against my equity in property?!

Alanmc88

Thrugelmir wrote: »

........and so a lender isn't going to risk advancing thousands. A credit record speaks a thousand words about an individual and their attitude towards their personal finances.

I can see what your saying but the only reason i didn't pay it was because my contract had already finished. I just payed them because I got bored of arguing!

Vodafone

Alanmc88 wrote: »

... The previous agreement that I defaulted on was a Vodafone account that I disputed paying as it was an unfair demand!. It was only £60 or so and that's the only blemish on my record....

Hi Alanmc88,

If you'd like me to get this looked into further, email me with your details via the link in our profile here.

All you need to do is copy and paste the link into your web browser and it'll take you to the Contact us form on our website. To make sure it reaches me, quote the code WRT135 - MSE in the subject line.

Once sent, you'll receive an automated reply with a reference number. Post back with this and I’ll check I've received it.

Kind regards,

Lee

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Vodafone UK

dealer_wins

britishidol wrote: »

That is really lots of important Information included here.

Click spam, just a spammer building post count up!!

somethingcorporate

Have you talked to a dealer? if you're desperate for a flashy car then you should be able to get finance secured on the car.

You'll probably get fleeced on the price or the rate but if you're desperate you'll probably get what you want.

R_P_W

You are being very irresponsible. Why on earth would you want to take a loan for a car secured on a property? Why would the other parties agree?

What do you think happens if you lose your job and can't make the loan payments?

PasturesNew

Never borrow for a car.... it's not worth the long term commitment and potential for high breakdown/repair costs or it being written off/stolen.

Save, buy something you can afford, then save the money you'd have been paying for a loan and when you've got enough buy the car you'd have bought in the first place.... for CASH.

Voyager2002

Alanmc88 wrote: »

.
I was looking for 12-15k to buy a new car. I earn £560 per week and I have a 1/4 in a house that's worth 200k (I own roughly 50k) and it's mortgage free!.

It just seems ridiculous that I've been giving the bank my wages every week since I was 16 and they don't trust me yet if I was a student or that they'd give me it!.. Thanks for your help guys

No, they would not allow a student to borrow that much, and certainly not for such a frivolous purpose.

Anyway, why not buy a bicycle?

Pixie5740

This is 2014, not 2007. Secured loans are not as easy to come by as they once were. Generally you need a good credit history and lots of equity to even be considered for a secured loan with a half way decent rate. You have neither.

If the other 3 people who jointly own this property with you are willing to allow you to take a secure loan out against the property so you can by a car they need their heads read.

ricky_v

Alanmc88 wrote: »

I was looking for 12-15k to buy a new car. I earn £560 per week

If you only spend a weeks wages in a month on ultilities/life you'd have enough money to buy the car in cash in 5-6 months!

Much better than being lumbered with a loan for x number of years:)

27col

Just as a matter of interest. There is no such word as payed. The word you are looking for is paid.