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Loan for a home 60K

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  • 20-02-2015 10:06pm
    #1
    sadie1502
    Registered Users Posts: 666 ✭✭✭


    G


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    #2
    Villa05
    Registered Users Posts: 4,621 ✭✭✭Villa05


    Google home choice loans. Not sure if it still exists but worth a shot. It was designed for people refused from main stream banks


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    #3
    Lucy B
    Registered Users Posts: 97 ✭✭Lucy B


    Go and speak to a mortgage broker. They will know by looking at all your paperwork and advise you of what to do next.


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    #4
    sadie1502
    Registered Users Posts: 666 ✭✭✭sadie1502


    R


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    #5
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    sadie1502 wrote: »
    See the thing is his wage would be too low on his own and my rating would be an automatic refusual. We were thinking more along the lines of a loan rather than a mortgage as the criteria for a mortgage nearly requires you to handover your first born.

    Your credit record only lasts five years not eight


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    #6
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    sadie1502 wrote: »
    My loans aren't paid off. Im still paying them

    Ah right we'll in that car the bank will probably views you in the same light regardless if it's a loan or a mortgage


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    #7
    sadie1502
    Registered Users Posts: 666 ✭✭✭sadie1502


    [


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    #8
    jimmycrackcorm
    Registered Users Posts: 14,339 ✭✭✭✭jimmycrackcorm


    sadie1502 wrote:
    My loans aren't paid off. Im still paying them


    If you're saving so effectively then why aren't you paying off your loans


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    #9
    sadie1502
    Registered Users Posts: 666 ✭✭✭sadie1502


    R


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    #10
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    sadie1502 wrote: »
    I am paying them. Ive already stated that.

    Would you not pay them off quicker with less saving? Regarding your boyfriend if he can't get a mortgage its unlikely he'll get a loan for the same amount. Can he not just wait?


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    #11
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,412 Mod ✭✭✭✭Gumbo


    sadie1502 wrote: »
    I am paying them. Ive already stated that.

    He means pay more off your loan and clear them!


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    #12
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    sadie1502 wrote: »
    Its still 5 to 6 years minimum. We will see what happens.

    But what's the rish? Pay off your loans keeo saving etc and you'll be in a better position


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    #13
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,688 Mod ✭✭✭✭Stheno


    In your position I'd just check alternatives like home choice but that aside plan on buying in five years plus


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    #14
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    I'm not sure where you're going with a mortgage requiring your first born?

    A mortgage is secured credit, you're much more likely to get secured credit than unsecured credit. If you've been paying down debts even with an agreement in place there shouldn't be an issue if you meet the other criteria. The problem will be that the debt you have may mean that you don't qualify for a mortgage. If you don't qualify for a mortgage I'm not sure where you think you will get a loan, other than someone like Tony Soprano.

    I take it you've agreements with creditors to write down debt? I'd work away with that and get everything cleared off. While you should always have some back up savings I'm not sure how effective it is saving each week if you fall into debt else where.

    Best of luck.


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    #15
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    sadie1502 wrote: »
    It was a joke.

    I probably haven't explained all the ins and outs. Tony Soprano ha. Thanks anyway

    I know but you were implying some sort of barrier beyond what is required for unsecured credit when actually a mortgage is easier to get for a given amount.


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    #16
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    sadie1502 wrote: »
    Well that wasn't my intention. Thanks we will review our options.

    Pay off your existing loan before applying for another loan. The lender will assess you outgoings/other loans as part of any application process. If you have a clean slate, it is more favourable.


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