Loans when on maternity leave

Lau03

I am due to finish work for maternity leave in 2 months time. I will get full pay for 2 months. 3 quarter pay for 3 months and statutory pay for another 3 months. 

We are in desperate need of a new bathroom as we are having repair after repair done on it but we just don’t have the cash in savings to pay for this and the money needed for baby. I’m so worried that we won’t keep our heads above water. Is getting a loan the best option and what would be the best sort to get/ any good deals? I’m at the end of my tether with it. 

[Deleted User]

You're going to struggle if your income is dramatically reduced.

Better to cut costs elsewhere and make the essential repairs.

Given your situation, a loan is the last thing you need.

fatbelly

Probably now is not the time to be doing home improvements. To get through the next yeatr you're going to need to claim everything you can

https://www.gov.uk/maternity-pay-leave/extra-help
https://www.moneyadviceservice.org.uk/en/articles/benefits-and-entitlements-to-claim-when-you-have-a-baby
https://maternityaction.org.uk/advice/money-for-parents-and-babies/

sourcrates

Hi,

What is it you need to replace exactly ?

Bath, sink, shower, toilet, you don`t need to buy a fancy one, individual matching items can cost from £20 upwards, you can easily replace a basic bathroom for less than £200 if you do it yourself.

If its pipework related, that`s even easier, plastic pipe is cheap, and a doddle to work on, anything electrical will require an electrician, but you should not need a loan to do it.

MEM62

Lau03 said:

I’m so worried that we won’t keep our heads above water. 

Lau03 said:

Is getting a loan the best option and what would be the best sort to get/ any good deals?

Step back and think about it for a minute.  In one sentence you are saying that you are worried about keeping your heads above water and in the next you are considering taking on debt.  If you are struggling now how are you going to cope with servicing loan repayments?  So, no, a loan is far from the best idea. 
There will be other ways to address your bathroom issues - even if on a temporary basis until your finances improve.  Do not put yourself of a slipper slope by borrowing.     

jonesMUFCforever

Not only would you have the loan repayments to worry about but the additional costs that having a child entails.

macman

Why do you need 'repair after repair' in a bathroom? Assuming the plumbing and electrics work, the rest is cosmetic. On the basis that you fixed the former, what is there left to do?
From what you've said, you have no way to finance a loan.