can't get a loan but own a house

MikeJXE

Can we look at your website ?

How about posting a link 

Richard1212

A multi-million £ business ? No cash available from either partner for a mere £15,000 purchase ? You own a house valued at £35,000 when the average house in Co Durham costs £165k ?  Really ?

CliveOfIndia

monkey74 said:

... soon I'll be rich

Of course you will.

monkey74 said:

However my company needs to upgrade it's status with that country's authorities, and buy a vehicle

This in itself sounds very suspicious to me.

I'd tread very carefully if I were you, this whole scenario sounds very much like a scam to me.  Aside from that, you'd need a business loan rather than a personal loan if you're wanting to use the money to buy equipment for your business.

MEM62

monkey74 said:

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! 

Whether you care or not is irrelevant.  The lender cares.  They do not want to lend if there is a risk that they may have to repossess your house.  It is expensive, long winded and, no matter what you say now, they would expect you to resist any such action. 

monkey74 said:

But it won't happen anyway because soon I'll be rich, but I can't get to that point for the following reason.

Of course you will :-)   This time next year you'll be a millionaire if only you had £15K now.  

monkey74 said:

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. 

So, as a new company, you have secured a multi-million pound contract competing against against established competitors but the local authorities are insisting that you buy a £15k vehicle in order to have the appropriate 'status'.  Really?  No authority dictates to a company what assets it does and or does not need to have. 

I think we are in the realms of fantasy here.

monkey74 said:

Any ideas?

Don't give up the day job.  


  


  

monkey74

Richard1212 said:

A multi-million £ business ? No cash available from either partner for a mere £15,000 purchase ? You own a house valued at £35,000 when the average house in Co Durham costs £165k ?  Really ?

I live here, OK?

https://www.zoopla.co.uk/house-prices/county-durham/chilton/albert-street/

monkey74

MEM62 said:

monkey74 said:

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! 

Whether you care or not is irrelevant.  The lender cares.  They do not want to lend if there is a risk that they may have to repossess your house.  It is expensive, long winded and, no matter what you say now, they would expect you to resist any such action. 

monkey74 said:

But it won't happen anyway because soon I'll be rich, but I can't get to that point for the following reason.

Of course you will :-)   This time next year you'll be a millionaire if only you had £15K now.  

monkey74 said:

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. 

So, as a new company, you have secured a multi-million pound contract competing against against established competitors but the local authorities are insisting that you buy a £15k vehicle in order to have the appropriate 'status'.  Really?  No authority dictates to a company what assets it does and or does not need to have. 

I think we are in the realms of fantasy here.

monkey74 said:

Any ideas?

Don't give up the day job.  


  


  

Look  I didn't post here for debate about whether this was real or not, I know it is, as have been friends with the manager for years. I am just after help to get money. This is the dam that we have secured a contract for

https://www.pressreader.com/philippines/manila-bulletin/20180714/281612421171609

I am talking about a developing company, which is overwhelmed with building opportunities

The local authroities are not insisting that we need a vehicle, the manager is, and I agree, car rental and petrol is £50 a day and its killing me.

The approved status is something called PCAB

https://www.tripleaaaconsultancy.com/post/what-to-know-in-applying-for-a-pcab-license-2022

Happy now?

retiredbanker1

monkey74 said:

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

You surely don't trust that scam website?

monkey74

retiredbanker1 said:

monkey74 said:

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

You surely don't trust that scam website?

a baseless accusation

this one then

https://businessmirror.com.ph/2023/04/06/uk-offers-8-b-investment-partnerships-funding-for-phl/

or this one

https://www.dof.gov.ph/uk-launches-british-investment-partnerships-for-sustainable-development-in-ph/

Martico

If you've got a secure contract and a valid business proposition, I fail to see how you can't get a small business loan.
[Edit - and yes, I know that "if" is doing a lot of carrying in that sentence]

turnitround

From one of your earlier posts it appears your mother bought the house and gifted it to you. But you dont care if you lose the house!