Personal loans

Lberry

Is there any genuine persons out there who do personal loans?
I have just left a thirty year abussive marriage to come across yet more obstacles that would leave you so down and defeated.
I’m a honest genuine lady working in a professional capacity for over thirty years. I’m having to move a good distance from my children and grandchildren for my personal safety and was so pleased when I found a property which I thought would be financially within my reach. I approached the financial institute I have been with for as long as I can remember to borrow 30,000 euro, (having the rest of the money to put on the property) this being something I didn’t want to do but needed to as I was left with nothing from my marriage and have had to go through court to get at least some money from the marital home. I have never had or have a bad credit history and at my time of absolute need for a roof over my head been let down. Has anyone any advice or know of any support I can turn to? I’m not asking for a hand out just would like to live the rest of my life in a calm,secure and safe environment.

VeVeX

This might be of some use -

REQUEST FOR ASSISTANCE-STRICTLY CONFIDENTIAL

I am Dr. Bakare Tunde, the cousin of Nigerian Astronaut, Air Force Major Abacha Tunde. He was the first African in space when he made a secret flight to the Salyut 6 space station in 1979. He was on a later Soviet spaceflight, Soyuz T-16Z to the secret Soviet military space station Salyut 8T in 1989. He was stranded there in 1990 when the Soviet Union was dissolved. His other Soviet crew members returned to earth on the Soyuz T-16Z, but his place was taken up by return cargo. There have been occasional Progrez supply flights to keep him going since that time. He is in good humor, but wants to come home.

In the 14-years since he has been on the station, he has accumulated flight pay and interest amounting to almost $ 15,000,000 American Dollars. This is held in a trust at the Lagos National Savings and Trust Association. If we can obtain access to this money, we can place a down payment with the Russian Space Authorities for a Soyuz return flight to bring him back to Earth. I am told this will cost $ 3,000,000 American Dollars. In order to access the his trust fund we need your assistance.

Consequently, my colleagues and I are willing to transfer the total amount to your account or subsequent disbursement, since we as civil servants are prohibited by the Code of Conduct Bureau (Civil Service Laws) from opening and/ or operating foreign accounts in our names.

Needless to say, the trust reposed on you at this juncture is enormous. In return, we have agreed to offer you 20 percent of the transferred sum, while 10 percent shall be set aside for incidental expenses (internal and external) between the parties in the course of the transaction. You will be mandated to remit the balance 70 percent to other accounts in due course.

Please forward your bank deposit details - abachatunde@gmail.com

dudara

@VeVex - less of the silliness please.

OP - the best path for a loan is a properly regulated financial institution. Moneylenders are not a good idea at all. I suggest getting proper professional advice, perhaps from a financial advisor.

Moving to Banking & Insurance & Pensions

dudara

dudara

@ChuckLarry - if you have a problem with a post, then report it. Otherwise you’re just adding noise to the thread.

dudara

Avatar MIA

OP,

Would renting be the obvious answer?

Per Mod's advice otherwise.

hanaimai

What were the reasons you were given for the rejection? Have you tried other banks (assuming it was a bank you approached)?

dennyk

A 30k personal loan would be a large risk for a bank, as there is no asset securing it that they can take possession of to mitigate their losses if you fail to pay it back as agreed. If you applied for a personal loan in that amount, it's not surprising that it was rejected. Why not apply for a mortgage instead?

I know that in the US, banks are often unwilling to give mortgages that small, as their return on investment on such a small loan doesn't make them enough profit given the cost of origination. It's possible that may be the case here as well. If you have a long-term job that pays well, I'd talk to the banks and see if you could obtain a larger (and maybe shorter-term) mortgage for the property in question, even if you could put down a larger deposit up front. If you can secure a mortgage with a more typical loan-to-value ratio, you could then use your remaining funds to overpay on your mortgage to reduce the term further after the fact (provided the terms of your loan allow it), or if your interest rate is low enough, consider investing your extra funds instead to get a better return yourself.

Don't limit yourself to a single bank, either; shop around at all the banks, or talk to a broker. Just because one bank has turned you down doesn't mean that all of them will, unless your circumstances truly wouldn't qualify you for a mortgage in the first place.

Lberry

dennyk wrote: »

A 30k personal loan would be a large risk for a bank, as there is no asset securing it that they can take possession of to mitigate their losses if you fail to pay it back as agreed. If you applied for a personal loan in that amount, it's not surprising that it was rejected. Why not apply for a mortgage instead?

I know that in the US, banks are often unwilling to give mortgages that small, as their return on investment on such a small loan doesn't make them enough profit given the cost of origination. It's possible that may be the case here as well. If you have a long-term job that pays well, I'd talk to the banks and see if you could obtain a larger (and maybe shorter-term) mortgage for the property in question, even if you could put down a larger deposit up front. If you can secure a mortgage with a more typical loan-to-value ratio, you could then use your remaining funds to overpay on your mortgage to reduce the term further after the fact (provided the terms of your loan allow it), or if your interest rate is low enough, consider investing your extra funds instead to get a better return yourself.

Don't limit yourself to a single bank, either; shop around at all the banks, or talk to a broker. Just because one bank has turned you down doesn't mean that all of them will, unless your circumstances truly wouldn't qualify you for a mortgage in the first place.

Dennyk
Thank you so much for that very much appreciated... may need to talk to you again been such a long time since I’ve had to deal with all this thank you once again.

kerrycork13

Hi Lberry,
Sorry to hear of your situation.
Just wondering how you got on?

Trish56

OP, have you tried the Credit Union, they now give mortgages.

Prospector1989

Trish56 wrote: »

OP, have you tried the Credit Union, they now give mortgages.

Was going to suggest this. During our search, I had noticed that my CU gives mortgages. The calculator on the website gives a range of 40k-200k.

anewme

Hi, I recently got a credit union loan for 40K for house renovation.

I already have a mortgage and this will run alongside this.

It is not secured against my house and they were very prompt and professional in their responses.

patsy mulcaghy

Wondering how they approved such a large amount with nothing secured against? Was the interest rate quite high if you don't mind me asking? In a similar position myself. Thanks

anewme wrote: »

Hi, I recently got a credit union loan for 40K for house renovation.

I already have a mortgage and this will run alongside this.

It is not secured against my house and they were very prompt and professional in their responses.

anewme

Think was around 6.1 percent APR.

Id be minimal risk with strong credit rating so thats probably why it went straight through.