raising £45000 best way?

matttye

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tanya_no9

CHR15 wrote: »

For £20k? you need to think again.

Well don't just say that, please give me some advice...

tanya_no9

19lottie82 wrote: »

I can say with 99.99999% certainty, this is not achievable, sorry.

Firstly, the only way you could get a loan for 25k is if you ditched the CC with the 10k limit, and also earned over £50k a year, with no other debt and a have a great credit history.

If that isn't a non starter, no company will give you 20k on a credit card as a new customer, let alone on an interest free card, when you have a £25k loan hanging over your head.

I'm sorry if this isn't what you want to hear, but the reality is, you have no chance of getting £45k of unsecured debt, unless you're absolutely loaded and have a long history with financial providers of borrowing equally large amounts and paying it back, but I'm guessing this isn't the case.

Can I ask what you need it for? People might be able to help with an alternative solution?

What's your current salary / debt levels?

Thanks for your input, it will be used to fund the buying of a narrowboat.......I've no debts and earn 50k ish.....and was thinking a number of low APR cards not just one at 20k as I know the likely hood of getting one at 20k is nil...

BrassicWoman

you need a specialist lender. I found one within 5 seconds of googling. you're looking for a residential ships mortgage.

sleepymans

tanya_no9 wrote: »

Thanks for your input, it will be used to fund the buying of a narrowboat.......I've no debts and earn 50k ish.....and was thinking a number of low APR cards not just one at 20k as I know the likely hood of getting one at 20k is nil...

The cost of repaying that large debt, added to exceptionally high running costs of a narrowboat make this a big black hole into which a lot of your income is going to disappear.


Narrow boats are expensive hobbies and NOT low cost homes ...but I presume you realise that?


A new fullsize and full spec narrow boat will set you back over £100k - are you buying a used one? Do have a marine survey on it, if you are.


The cost of licencing, mooring, insuring, maintaining, heating and diesel, pump-outs and depreciation make narrow boat ownership anything BUT money-saving. Its fine if you are sure you really love the lifestyle...but beware.


A certain level of inconvenience and having far less control over things (by-laws, licencing restrictions, no mains services, hauling heavy gas canisters on and off, charging batteries etc) can become very tiresome, more quickly than you might imagine.


Maybe you know all this and still want to buy a boat....fine, but do a lot of boating and tons of research first....maybe you could save up whilst you are doing that so you don't have to take on so much debt??

tanya_no9

sleepymans wrote: »

The cost of repaying that large debt, added to exceptionally high running costs of a narrowboat make this a big black hole into which a lot of your income is going to disappear.


Narrow boats are expensive hobbies and NOT low cost homes ...but I presume you realise that?


A new fullsize and full spec narrow boat will set you back over £100k - are you buying a used one? Do have a marine survey on it, if you are.


The cost of licencing, mooring, insuring, maintaining, heating and diesel, pump-outs and depreciation make narrow boat ownership anything BUT money-saving. Its fine if you are sure you really love the lifestyle...but beware.


A certain level of inconvenience and having far less control over things (by-laws, licencing restrictions, no mains services, hauling heavy gas canisters on and off, charging batteries etc) can become very tiresome, more quickly than you might imagine.


Maybe you know all this and still want to buy a boat....fine, but do a lot of boating and tons of research first....maybe you could save up whilst you are doing that so you don't have to take on so much debt??

Thanks for the input, I already have a narrowboat and have lived on it for over 7 yrs, the money Im wanting is to buy a new part fitted boat to then fit out myself....

puk999

19lottie82 wrote: »

I can say with 99.99999% certainty, this is not achievable, sorry.

So you're telling OP there's a chance?
https://www.youtube.com/watch?v=KX5jNnDMfxA

tanya_no9

BrassicWoman wrote: »

you need a specialist lender. I found one within 5 seconds of googling. you're looking for a residential ships mortgage.

thanks but cant go down this route, Im wanting a part fitted new boat to finish myself.....below the min spec the marine mortgage company require...

tanya_no9

Can you please enlighten me, OP?

puk999

OP=Original Poster