Loans for pensioners??? Are they a myth???

Lealea3110
Lealea3110 Posts: 11 Forumite
Think I posted in wrong place before... sorry....

I'm just looking for some advice.....

My nan is 75.... never had a credit card etc....

My grandfather has recently passed and they received benefits via him.... he got carers etc as nan was looking after him.... her pension paid to her account shes had for 30+ years....

they live in council sheltered accommodation and whilst she awaits the housing benefit etc to be changed over she has fallen behind with the rent.... she has started getting eviction notices (ive explained its extremely unlikely... however she is in a right panic) we been looking to get her a short term loan to pay off arrears until she is reimbursed....

however these seem to be a myth!! She may be 75 but there is a lot of life in her yet!! I have only performed "soft searches" trying to see the possibility..... but so far all that comes back is guarantor or payday loans.....
am I better trying to get a loan against my own home??

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242
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    They're not a myth. But they need to be able to afford them.

    She won't get a loan if she's struggling with rent payments.

    If you're willing to help her out, then do that.
  • Lealea3110
    Lealea3110 Posts: 11 Forumite
    Thought so!... Thankyou xx
  • sourcrates
    sourcrates Posts: 28,717
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    Failing that, its always better to come to an arrangement with the landlord, rather than borrowing your way out of trouble.


    You may be plesently surprised if you explain the situation to them, as the usual scenario is to just miss payments without any explanation, so the landlord is non the wiser as to why she hasn't paid, hence the letters.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • System
    System Posts: 178,077
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    You need to talk to the council. If I could prevent my neighbours from being evicted from their council house with 12 months of arrears I'm sure you can manage to do it. The last thing council housing departments want to do is evict people so you need to talk to them.
  • Sncjw
    Sncjw Posts: 3,500
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    How will she pay the loan back each month if she can!!!8217;t pay the rent
    Mortgage free wannabe 

    Actual mortgage stating amount £75,150

    Overpayment start date 1/3/23.

    Starting balance £66,565.45

    Current balance £63,787.16

  • Robin9
    Robin9 Posts: 12,055
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    Have you spoken to Age UK - they will have details as to what her entitlements are ?

    Another job for you - look at her utilities and insurances and see if there are better tarrifs for her
    Never pay on an estimated bill
  • Lealea3110
    Lealea3110 Posts: 11 Forumite
    thanks for the replies ive paid it now and shes happy.....xxx
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
    Sncjw wrote: »
    How will she pay the loan back each month if she can!!!8217;t pay the rent


    As I read it, the reason she can't pay the rent is because of housing benefit having to be put in her name. Once that is done, the rent and back arrears from when her husband died should be paid off. It is just a temporary blip which can be explained to the landlord and shouldn't need a loan if the landlord is reasonable.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,445
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    Once the housing benefit is sorted and in your nans name it should be backdated. Obviously she will lose the carers allowance but it might be a good idea to sit down with her and work out her finances. On a tight budget though a loan is never a good idea, pensioner or not.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • Ergates
    Ergates Posts: 2,108
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    Lealea3110 wrote: »
    thanks for the replies ive paid it now and shes happy.....xxx

    It's good that she has you to help her out.
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