how can i raise 5k??
- Thread starter lisa&alex
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set up a website asking for donations 
some people try it and get away with it
You could try bootsales, selling anything you don't need. overtime at work for your OH. I dunno I am crap with money, my savings have dwindled from £40,000 to £4,000
some people try it and get away with itYou could try bootsales, selling anything you don't need. overtime at work for your OH. I dunno I am crap with money, my savings have dwindled from £40,000 to £4,000
she'd help usI can totally sympathize with you, even our 4k is not enough for a proper deposit, we're looking into shared ownership just to get on property ladder. 
would prefer not to. hope you find an easy way to get cash together 
would prefer not to. hope you find an easy way to get cash together If you've got relatives that can help then that's a good way. DH's parents lent us the money for the deposit on our first property, then we paid it back when we could. It was an interest free way to get the money quickly, you could always set up a payment plan with them?
Babylicious
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maybe sell some stuff, cut back on non essentials, get a part time job?
as a single person living near london there was no way i could afford a flat without a big deposit...so this is what i did
i took my parents aside and said to them 'mother and father dearest, i can wait for you to die before i can afford a house, or you can help me by investing in property'
basically i didnt ask for money but i asked my parents to invest by fronting the deposit which amounted to 20% of the value of the flat. We drew up a contract so they legally own 20% of the property value. Whenever i sell and they want their share back, they'll have made money on it themselves, hence its an investment for them.
it does mean they could need the money back when they retire so i will have to try to buy them out as time goes on (not right now though!)
just an idea cos its not asking for money, its offering your parents an opportunity
i took my parents aside and said to them 'mother and father dearest, i can wait for you to die before i can afford a house, or you can help me by investing in property'
basically i didnt ask for money but i asked my parents to invest by fronting the deposit which amounted to 20% of the value of the flat. We drew up a contract so they legally own 20% of the property value. Whenever i sell and they want their share back, they'll have made money on it themselves, hence its an investment for them.
it does mean they could need the money back when they retire so i will have to try to buy them out as time goes on (not right now though!)
just an idea cos its not asking for money, its offering your parents an opportunity
I dont know if it works and you would need a good friend or familly! But the other night I was wondering if my mum and dad or someone who could get a mortgage on a house was to buy one then rent it back to you. And then you could use Housing Benifit if your entitled to it and pay your friend/familly who the houses name is under the rent till its all payed back and then you have in effect paid for a house and its yours but with the help of someone else if they are willing to help you but It would always be under their name.
I have no idea how it would work and have no idea how hard becoming a landlord would be but It was just a stupid thought that crossed me the other day!
I have no idea how it would work and have no idea how hard becoming a landlord would be but It was just a stupid thought that crossed me the other day!
Start investing bits and bats on the Stock market change 5 in to 10 and 10 in to 20 etc, you will loose sometimes but if yo invest little and often you should make more than you loose. You will need to check the share prices daily and sell as loon as they go up though try not to wait for them to go ''higher and higher''
not that im advocating gambling, but again if you go on a reputable polker site (you will need to read the rules of play before you do it) invest a tenner (find one who will do an offer and double your first bet) and see if you win, I know people who have won a few thousands here at work! YOu just need to be strict and only spend that 10. So if you bet £2 and win £4 - make a note to leave £2 in the account, then bet the other £2, this time you win £8 so leave £4 in the account and bet £4 and so on - never re bet all you win!
I dont do either of these things cause I dont have the internet at home, but if I did I would, I know people who have made a fair few ££££s from it
not that im advocating gambling, but again if you go on a reputable polker site (you will need to read the rules of play before you do it) invest a tenner (find one who will do an offer and double your first bet) and see if you win, I know people who have won a few thousands here at work! YOu just need to be strict and only spend that 10. So if you bet £2 and win £4 - make a note to leave £2 in the account, then bet the other £2, this time you win £8 so leave £4 in the account and bet £4 and so on - never re bet all you win!
I dont do either of these things cause I dont have the internet at home, but if I did I would, I know people who have made a fair few ££££s from it
I no you said you dont want a loan but would you not get a mortgage once you have the place?
The only way round it i can see is if you have a 0% Credit Card take the money from there for the deposit, then get the mortgage (Including the amount paid for deposit, so that it can be paid straight back without interest).
The only way round it i can see is if you have a 0% Credit Card take the money from there for the deposit, then get the mortgage (Including the amount paid for deposit, so that it can be paid straight back without interest).
Jollypops said:
I find mortgage companies take into account what debt you have alrerady on an affordability basis. If you have a £5k loan, they'll lend you less, and the difference isn't just the £5k.
Perhaps a parent can get the loan/card for you, and you transfer it back to yourself after the mortgage has gone through.
MagicMarkers
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Apparently sex line pays quite well Might not get you it all in one big whack, but gradually im sure every little helps i spose :S Im thinking about trying it but i think im too shyyyy
Might not get you it all in one big whack, but gradually im sure every little helps i spose :S Im thinking about trying it but i think im too shyyyy NickyB said:
You wouldn't beable to do this unless you find a mortgage company who will offer you 100% and if you can do that then you don't need 5k deposit you can just purchase the house at 100% HOWEVER 99% of the reputable Bank/Building societys have stopped offering 100% and only offer 90 or 95%. Also they wouldn't (or most wouldnt) see a 5k personal loan or CC as a problem and wouldnt reduce your multaples for it.
TBH there is no quick fix, hard graft and saving and some good buying and selling (i.e trawl car boots / charity shops and get stuff cheap you can sell on ebay for more - my boss got stretch armstrong for about £20 and just got £380 for it on ebay!), sell anything you don't need/want. Any services you can offer for a fee - dog walking, baby sitting, gardening etc
another good one if you have a mobile on contract, upgrade to the best phone they will offer you for free - dont open it and sell it on ebay - thats a few hundred quid!
Check ebay for makes and models of phones and what they sell for, my local asda have a nokia model on PAYG for £5! and they sell on ebay for at least double that!
keep an eye out for deals on items that are really excellent deals (50% for example) hoard up on them and sell them on ebay when the deal has gone off - ive made a few bit over the years doing that
Check ebay for makes and models of phones and what they sell for, my local asda have a nokia model on PAYG for £5! and they sell on ebay for at least double that!
keep an eye out for deals on items that are really excellent deals (50% for example) hoard up on them and sell them on ebay when the deal has gone off - ive made a few bit over the years doing that
jennywren said:
FWIW this has influenced our borrowing power from Alliance & Leicester and Halifax in the past.
Hmm, however, I've just one online with and without a £4k credit card and you're right. Maybe it mattered at the time, but not now?
NickyB said:
Yes I think in the past it did matter but then they changed the rules and your cc's and loans are divided up over the term then they reduce that amount so say £60k would make a difference but £5k wouldn't really - however my bet is, they have already binned off 100% mortgages, alot of lenders have decreased their borrowing multiples (we for example have gone from 5x to 4.5x which is only a bit but still a reduction) so it would not surprise me if the coming year they got a lot stricter on their lending with regards to loans already borrowed and CC's - Ramblings over lol
