Best way to get a £4k short term loan.

SARF

Hi,

Just looking for some advice on the cheapest way to get a £4k loan for 2-4 weeks.

I assume standard short term loans will be expensive?

Take out a normal 1 or 2 year loan and repay early, presumably with a charge... Who charges least?

Any other options.

I have decent credit rating but have always operated without a credit card, which I actually changed this month, but limit is low to begin with.

Basically I have funds being transferred from a share sale on US stock exchange, but due to circumstances beyond my control the funds have been delayed a couple of weeks and I had plans for the money that needed to be used in the next week.

So best way to get £4k for a month? Ideas?

Thanks guys

ddgg1233

Best idea would be to tell someone you know personally your problem and ask them to borrow it you? If it is literally for 2-4 weeks i cant see why your family for example wouldn't help?

Assuming theirs noone to ask just avoid payday loans, speak to your bank?

shop-to-drop

Maybe Zopa take a look see if they will lend it to you and work out how much it will cost.

dealer_wins

An overdraft from your bank would be an idea, if you can show then the sale paperwork etc it my help.

CKhalvashi

I'd ask why they're being delayed to whoever should be paying them.

I made a payment (around £40k, so well in excess of the amounts you're talking here) yesterday to a new beneficiary, in a country that globally isn't that connected to the banking system (no access to Worldpay etc) and the funds were in the account this morning, so there should be no excuse for it to take weeks.

SARF

Tell me about it, it's frustrating to say the least.

I made a share sale (circa £15k), auctioned on the 22nd sept from Morgan Stanley. They sent on the 25th sept, didn't show up in my UK Barclays account by the 2nd but had no correspondence from either bank to say there was an issue. Contacted Barclays, they say they returned it on 29th as it didn't have the correct info (I sent with Swift, account number, but for some reason the IBAN wasn't sent also).
Asked Morgan Stanley to resend with correct info ASAP, said it would be done on 3rd, but will be done by their processing dept. left number to let me know if any issues.
Heard nothing. Still not in Barclays account today. They can't trace it.
Rang Morgan Stanley. Now saying they still have not received funds from Barclays return, despite it nearing 2 weeks now. Can't do anything for me until they see the funds. So it seems lost in space.

I just can't wait any longer at this point while I got sent from bank to bank to find my funds. It's a disgrace.

SARF

So gone to Zopa to hopefully tide me over until this is sorted. Will end up costing me a couple hundred £'s no doubt with interest, fees and charges.

thebritishbloke

SARF wrote: »

I have decent credit rating but have always operated without a credit card, which I actually changed this month, but limit is low to begin with.

You won't have a good credit worthiness when you don't have any credit history to show for it, hence why you've been given a low limit on a credit card. I point this out, as you're probably unlikely to be accepted for any A+ lender loans.

Best option would be to borrow from friends/family.