can't get a loan but own a house

monkey74

I desperately need to release funds backed by my house (worth only £35k - yes it is cheap - it is Durham) however my past income doesn't come up to scratch. The thing is lenders seem to think I should care that I might lose my property if I can't keep up with repayments, so they won't lend. I don't care, take the house! But it won't happen anyway because soon I'll be rich, but I can't get to that point for the following reason.

I created a construction company with a friend in May, and my friend and I went abroad and we have recently signed contracts with an existing company in that country for a multimillion pound construction project, which the British embassy are very keen to support. However my company needs to upgrade it's status with that country's authorities, and buy a vehicle this can only been done with around £15k. My business partner has no funds, I have no funds, he won't ask others in the company for fear of looking like an idiot.

I need the money in a matter of two weeks, not 2 months which is what will take at least, if I sell the house, even though I already have someone that wants to buy.

Any ideas?

Brie

buy a car using a credit card or five?  

sell "shares" in your new company?  (friends were offered the chance to invest in a new game that someone local had designed and needed about $5k to promote it, friends turned down the chance and lost a share in a little thing known as Trivial Pursuit)

Set up one of those "Fund Me" pages?

monkey74

Brie said:

buy a car using a credit card or five?  

sell "shares" in your new company?  (friends were offered the chance to invest in a new game that someone local had designed and needed about $5k to promote it, friends turned down the chance and lost a share in a little thing known as Trivial Pursuit)

Set up one of those "Fund Me" pages?

Thanks for the advice

Go fund me is for donations, I can't ask for that, I just want money that will be repaid.

Maxed out on credit, so that's no go

Shares possibly I don't know enough about it, to benefit quickly.

I just want an independent investor or a loan really

cymruchris

If nobody is prepared to loan you the money due to the risk you pose - the only way you'll get it is to sell something - and that something might only be the house you have if that's all you have of value - but that can't happen in a fortnight. Your only other option is family or friends that are in a position to support.

If it's this country - you could take a log book loan against the vehicle - a secured product - such as zopa:

https://www.zopa.com/car-finance/hp 

If the vehicle is needed overseas though that won't work.

Could you rent the vehicle you need in the short term until you start getting payments?

lal234

Send out multiple unsolicited emails asking if strangers would like to invest in your new fail safe money making scheme???

retiredbanker1

Your colourful past according to previous posts suggests to me that you are a very high risk customer.

 The whole purpose of any British embassy is to help our citizens in a particular country but I have never heard them support people in this way.
Are you sure you are not being scammed here?

turnitround

A multi million pound contract given to a company that cant even afford a van?

strawb_shortcake

I work in procurement and would love to see the tender and due diligence that was done to award that Contract...

Edi81

annabanana82 said:

I work in procurement and would love to see the tender and due diligence that was done to award that Contract...

Sounds like a dodgy Tory mate contract!

monkey74

retiredbanker1 said:

Your colourful past according to previous posts suggests to me that you are a very high risk customer.

 The whole purpose of any British embassy is to help our citizens in a particular country but I have never heard them support people in this way.
Are you sure you are not being scammed here?

https://www.pna.gov.ph/articles/1198577

no it's all real, I've met with governors and congressmen over there

The trade and investments division of the embassy are involved in securing funds

monkey74

turnitround said:

A multi million pound contract given to a company that cant even afford a van?

I know it's crazy, the manager is an excellent salesman, and we have an impressive website, but no money