Debt free (virtually), but now need a loan

Number75

I think your daughter should pay for her own wedding, or wait until she can afford to do so - or you can afford to contribute.

It is crazy that you're going to be paying interest on a loan, and giving money to her!

It's a perfectly good life lesson for her that you save until you can afford things.

Wedding almost a year away so plenty of time to replan.

And if you, she, and her in laws are putting in the same (think so) that's a £10K wedding.

£10K up a wall on ONE DAY.

You really want to be paying interest on a loan so you can pay for a party???

Your daughter should have some pride and save up for her wedding - and if she can't afford £10K on it, cut her cloth accordingly.

£10K on one day. On a party.
You're really going to get into debt for that?

LabRatty

Hi Jack,
We've used the firestone product and another family member had it on a loft conversion last year - both pleased with the result.

While I understand it's frustrating to be looking at a loan, I think the 'stitch in time saves nine' principle applies here to stop your property deteriorating further.

All the best,
LR

Fireflyaway

This sounds like something that needs doing rather than something you are choosing. I'm guessing if its not done things could escalate and the final bill would be even bigger.
If I were you I would get the roof done and either get the loan over the shortest time possible or overpay.
Re the wedding. My parents paid for mine and it felt so special. Its not about the money but the symbolism.

grocerjack

LabRatty wrote: »

Hi Jack,
We've used the firestone product and another family member had it on a loft conversion last year - both pleased with the result.

While I understand it's frustrating to be looking at a loan, I think the 'stitch in time saves nine' principle applies here to stop your property deteriorating further.

All the best,
LR

Much appreciated, thanks for this positive and helpful answer

Jack

grocerjack

Fireflyaway wrote: »

This sounds like something that needs doing rather than something you are choosing. I'm guessing if its not done things could escalate and the final bill would be even bigger.
If I were you I would get the roof done and either get the loan over the shortest time possible or overpay.
Re the wedding. My parents paid for mine and it felt so special. Its not about the money but the symbolism.

Thank you. re the wedding, one of the earlier answers was very churlish and more than a bit 'joy free'. We will look to get this done as I agree with you that its only going to get worse and its a must have rather than 'nice to have'.

Cheers, Jack

another_casualty

I feel sorry for you jack . You've just had 'life ' thrown at you .
I haven't any help here as such , but understand your situation.
If it were me, ( and I'm not speaking Dfw/ mse) I would get the roofing done professionally with proper guarantee etc. That would probably mean small,loan, if you're allowed.
Weddings ? Something you can't avoid paying for imho.
It's the brides big day . The biggest day of her life etc.
I can see why you are paying for it .
I can only wish you the best . Make sure whoever does the roof, is reputable etc.

grocerjack

another_casualty wrote: »

I feel sorry for you jack . You've just had 'life ' thrown at you .
I haven't any help here as such , but understand your situation.
If it were me, ( and I'm not speaking Dfw/ mse) I would get the roofing done professionally with proper guarantee etc. That would probably mean small,loan, if you're allowed.
Weddings ? Something you can't avoid paying for imho.
It's the brides big day . The biggest day of her life etc.
I can see why you are paying for it .
I can only wish you the best . Make sure whoever does the roof, is reputable etc.

What a lovely reply, thanks you very much

zenshi

I would bite the bullet and get it done professionally

I am in same sort of predicament but a loan for me is out of the question. I have known that my roof needs re-roofing for several years but it took a leak to spur me on to start saving for it

That one repair cost about 1/6 of the estimated total cost due to scaffold which obviously would be needed for each seperate repair

It's put my debt free date back around a year but it's important to not neglect your house

enthusiasticsaver

I would get the roof done professionally too. Get a 0% card though if your credit rating is ok so you don't have to pay interest and clear it before 0% deal up. Same goes for wedding and clear it when shares mature. Good debt (home improvements count as this, wedding - debatable) is ok so long as payments budgeted for, it is as cheap as possible (but still good quality) and as little interest paid as can be got away with.

foolofbeans

grocerjack wrote: »

Bless her, she's being very frugal about the whole thing and not being ostentatious in any way. they're putting in the same as are his parents!

I completely understand wanting to pay for your daughters wedding and it's great that you only have to pay for one third of it but £10k + is NOT being frugal.
There are plenty of ways to halve that cost and still have all the trimmings and a large guest list.
Could you not ask your daughter if there is anything they can do to help bring the cost down?