Disabled pensioner and needing a loan

Ridersbolt Posts: 12
First Anniversary Combo Breaker
edited 2 February at 10:11AM in Loans
I am a single 70 year old female, have full disability benefits (including max PIP) guaranteed pension credit, retirement pension plus a medium sized private pension. I need a downstairs extension for a bedroom and bathroom due to mobility issues. The council are considering a Grant plus some savings but it won't be enough to cover the whole cost. Are there lenders who will consider me for a loan of say £10,000 in my situation?


  • grumbler
    grumbler Posts: 58,629
    Name Dropper First Post Photogenic First Anniversary
    It's better to ask on  Loans   board.
    Or, possibly, on  Mortgages & endowments one if you are prepared to consider a secured loan.

  • knightstyle
    knightstyle Posts: 6,970
    First Post First Anniversary
    If you own the property go to a mortgage broker and get a mortgage.  I am nearly 80 and still have a mortgage with 12 years to go.
  • FreeBear
    FreeBear Posts: 14,251
    First Anniversary First Post Name Dropper Photogenic
    If you own the property go to a mortgage broker and get a mortgage.  I am nearly 80 and still have a mortgage with 12 years to go.

    Minimum amount for a mortgage is usually around £25,000.
    Her courage will change the world.

    Treasure the moments that you have. Savour them for as long as you can for they will never come back again.
  • gwynlas
    gwynlas Posts: 1,620
    First Post First Anniversary Name Dropper
    If you have no dependents then you could consider equity release. Repayments on a £10.00o loan are likely to come with a high interest rate whereas equity release would be paid from your residual estate. Otherwise a mortgage secured on your property might be cheaper and allow you to have more work done, A mortgage broker should easily be able to get you one until age 80 at least.. You might want to consider having a OT assessment regarding future needs such as lower worktops in kitchen or raising plug sockets so more accessible.. Please post an update when work completed as we are all getting older and should plan early for our changing needs
  • Bigphil1474
    Bigphil1474 Posts: 2,270
    First Anniversary Name Dropper Combo Breaker First Post
    Have you considered moving to a bungalow? There are a lot of empty properties near me as landlords seem to be getting out of the rental market. May be same near you. Might save you money and even have a small pot left if you downsize. 
  • silvercar
    silvercar Posts: 46,748
    Academoney Grad Name Dropper Photogenic First Anniversary
    I'll ask the forum team to move this to the loan board, as I think £10k would be too small for a mortgage.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
Meet your Ambassadors


  • All Categories
  • 341.7K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.1K Spending & Discounts
  • 233.8K Work, Benefits & Business
  • 606K Mortgages, Homes & Bills
  • 172.5K Life & Family
  • 246.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards