Loan from Pension fund

David_61

I have a pension fund of around £30k which my provider (Scottish Life) tell me I can withdraw in full after April 6th this year. I would like to raise about £8k before this date, can I borrow this from somewhere using my fund as a security?

SeanG79

I know of lenders who do this but if you can delay whatever you need the £8k for, I would do that, the fees linked to the pension fund lending are relatively high

Foxy-Stoat_3

Why not just take out an unsecured loan for £8K?

David_61

Thanks to you both, don't have sufficient credit standing for unsecured loan. Could you advise which lenders you know of.

Apples2

Seriously, just wait until April.

If your credit standing isn't good enough for an unsecured loan, you are not going to get £8k from anyone.
Nobody is going to throw EIGHT THOUSAND pounds at you on a promise of a future payout.

Foxy-Stoat_3

David_61 wrote: »

Could you advise which lenders you know of.

I do not think anyone can advise which lenders to go to if you do not have sufficient credit standing, whatever that means......

As others have said, what the 2 and a bit months for your payout.