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What a stupid idea that was.
uptomyeyeballsinfeckingdebt
Posts: 2 Newbie
Ok, so I will get myself out this in a few years, but what a stupid way of going about things and I really wouldn't recommend this!
I paid for a property for cash, we were homeless and more than a little desperate ( no excuse really) but to do this I borrowed 25 thousand on short term borrowing, 2 ten grand loans and 5 on credit cards . What an expensive way of doing it, couldn't borrow 25 thousand on a mortgage, only 40,000.
Currently working through the cards first, then the loans.
It would have been a lot better / more sensible to get 40,000 on a mortgage.
Lesson learnt. Numpty.
I paid for a property for cash, we were homeless and more than a little desperate ( no excuse really) but to do this I borrowed 25 thousand on short term borrowing, 2 ten grand loans and 5 on credit cards . What an expensive way of doing it, couldn't borrow 25 thousand on a mortgage, only 40,000.
Currently working through the cards first, then the loans.
It would have been a lot better / more sensible to get 40,000 on a mortgage.
Lesson learnt. Numpty.
0
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