Loan for £50,000

Lianne143

Hi 

I would like to take a loan for £50,000. 
I have a mortgage payment of £816 pm and my salary is £38889 pa.

I would like to spread the loan by 6-7 years, I tried money supermarket.com and it says no suitable load found.
Please suggest what is the best way of getting this loan.

Thanks and any suggestions will be really helpful.

[Deleted User]

You'll need a secured loan or remortgage for that sum, unless you want to break it up into smaller loans.

How much equity do you have?

bris

You mortgage payment is only one of your outgoings, you have a lot ,ore than that, it's called living costs.

No one is giving you 50k unless you have massive equity in your home.

TadleyBaggie

With that income you would struggle to get a 20K unsecured loan, 50K...no chance.

Ebe_Scrooge

As others have said, you ain't gonna get an unsecured loan for that amount - remortgage or secured loan is the most realistic option.  Without wishing to pry, what's the loan for?  If it's for a house extension/renovation/similar, then a mortgage or secured loan is quite feasible, and can be a good option so long as the work adds value to the house.  Aside from that, you really need to question whether the thing you want the loan for is actually necessary. 

[Deleted User]

Lianne143 said:

Hi 

I would like to take a loan for £50,000. 
I have a mortgage payment of £816 pm and my salary is £38889 pa.

I would like to spread the loan by 6-7 years, I tried money supermarket.com and it says no suitable load found.
Please suggest what is the best way of getting this loan.

Thanks and any suggestions will be really helpful.

I got well over 50K unsecured, and I have no home/equity. Break up the amount into smaller loans/Money Transfer Credit Card.

And don't listen to posters who say you can't achieve something, where there is a will there is a way.

GeordieGeorge

Adams18 said:

Lianne143 said:

Hi 

I would like to take a loan for £50,000. 
I have a mortgage payment of £816 pm and my salary is £38889 pa.

I would like to spread the loan by 6-7 years, I tried money supermarket.com and it says no suitable load found.
Please suggest what is the best way of getting this loan.

Thanks and any suggestions will be really helpful.

I got well over 50K unsecured, and I have no home/equity. Break up the amount into smaller loans/Money Transfer Credit Card.

And don't listen to posters who say you can't achieve something, where there is a will there is a way.

You got 125% of your annual gross salary unsecured, and honestly?

How, that’s so far beyond what’s normally available in mainstream loans that there must be something more to the story here.

[Deleted User]

GeordieGeorge said:

Adams18 said:

Lianne143 said:

Hi 

I would like to take a loan for £50,000. 
I have a mortgage payment of £816 pm and my salary is £38889 pa.

I would like to spread the loan by 6-7 years, I tried money supermarket.com and it says no suitable load found.
Please suggest what is the best way of getting this loan.

Thanks and any suggestions will be really helpful.

I got well over 50K unsecured, and I have no home/equity. Break up the amount into smaller loans/Money Transfer Credit Card.

And don't listen to posters who say you can't achieve something, where there is a will there is a way.

You got 125% of your annual gross salary unsecured, and honestly?

How, that’s so far beyond what’s normally available in mainstream loans that there must be something more to the story here.

Well I achieved it. When posters said I was highly unlikely too.

at solid interests rates too (most are zero per cent periods).

point is, it can be achieved.

we’ll see how I manage my finances over the coming years, I’ll keep you posted.

kimwp

Adams18 said:

GeordieGeorge said:

Adams18 said:

Lianne143 said:

Hi 

I would like to take a loan for £50,000. 
I have a mortgage payment of £816 pm and my salary is £38889 pa.

I would like to spread the loan by 6-7 years, I tried money supermarket.com and it says no suitable load found.
Please suggest what is the best way of getting this loan.

Thanks and any suggestions will be really helpful.

I got well over 50K unsecured, and I have no home/equity. Break up the amount into smaller loans/Money Transfer Credit Card.

And don't listen to posters who say you can't achieve something, where there is a will there is a way.

You got 125% of your annual gross salary unsecured, and honestly?

How, that’s so far beyond what’s normally available in mainstream loans that there must be something more to the story here.

Well I achieved it. When posters said I was highly unlikely too.

at solid interests rates too (most are zero per cent periods).

point is, it can be achieved.

we’ll see how I manage my finances over the coming years, I’ll keep you posted.

I thought you were trying to get 20k on a 70k salary, intriguing!

kimwp

Lianne143 said:

Hi 

I would like to take a loan for £50,000. 
I have a mortgage payment of £816 pm and my salary is £38889 pa.

I would like to spread the loan by 6-7 years, I tried money supermarket.com and it says no suitable load found.
Please suggest what is the best way of getting this loan.

Thanks and any suggestions will be really helpful.

Do you realise if someone were to grant you the loan, the monthly repayments would likely be in excess of £1000? With no pension contributions you have a monthly take home pay of £2500, so you would be left with a fairly small amount to pay food, bills, council tax etc out of after paying mortgage and loan.

Probably the best suggestion is to give more details of what you want the loan for as you're likely to get good advice on how to tackle it. 

[Deleted User]

kimwp said:

Adams18 said:

GeordieGeorge said:

Adams18 said:

Lianne143 said:

Hi 

I would like to take a loan for £50,000. 
I have a mortgage payment of £816 pm and my salary is £38889 pa.

I would like to spread the loan by 6-7 years, I tried money supermarket.com and it says no suitable load found.
Please suggest what is the best way of getting this loan.

Thanks and any suggestions will be really helpful.

I got well over 50K unsecured, and I have no home/equity. Break up the amount into smaller loans/Money Transfer Credit Card.

And don't listen to posters who say you can't achieve something, where there is a will there is a way.

You got 125% of your annual gross salary unsecured, and honestly?

How, that’s so far beyond what’s normally available in mainstream loans that there must be something more to the story here.

Well I achieved it. When posters said I was highly unlikely too.

at solid interests rates too (most are zero per cent periods).

point is, it can be achieved.

we’ll see how I manage my finances over the coming years, I’ll keep you posted.

I thought you were trying to get 20k on a 70k salary, intriguing!

Ended up getting much more