how can i raise 5k??

[Mrs_Jay]

dunno weather to just get our parents to help us out then pay them bk later..
so hard!

thats what i ended up doing

 

[happy-chick]

Also they wouldn't (or most wouldnt) see a 5k personal loan or CC as a problem and wouldnt reduce your multaples for it.

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?

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

We had a 10k loan & it reduced the amount we could borrow by over 30k so it does make a big difference what other credit you have.

 

[lisa&alex]

we r gonna save as much as poss..and als parents r gonna help us sort our finances out and see how much we can save realistically.. if we dont get that much together, think i might get my mum to help us a bit more or mayb get a loan for us and pay her bk bit by bit

 

[Steelgoddess]

Hiya just wanted to say when I bought my flat I had nought... So i did have to borrow, my mum lent me the deposit and I also took a loan out... Howver I sold the flat in 3 years to buy with OH and paid everything back using the equity so maybe speak with your folkes and tell them you will pay them back eventually by remortgaging etc??

Good luck hon,

 

[lisa&alex]

probs ive got is my mum left her hubby 4 months ago..so shes living in my nans old house (she passed away in july last yr) and they arnt even considering divorcing yet or anything.. my mum is paying the mortgage and all her bills so she cant afford to lend us much tbh.. shes gettign some backpay in work becuase they ahve all been underpayed so shes hoping for 7k.. she has already said she will give me and my bro 1k if she gets the full amount, and ive asked her if i can lend 1k (think my bro wants her to save his for him) and she has said yes she will help us out all she can. but obviously its ehr money and she wants to do the house up with it.. its a newish house like a barret home kinda thing so it only needs minor upgrades etc. but its still ehr cash.

now.. my step dads got like 20k in the bank but hes the tightest person ud ever meet.. my mothers put it in his mind that we need help to raise 5k.. but he hasnt said anything.. i dont think he'd lend it to us tbh.. but i think this is her final test to see if he has changed.. and id hazzard a guess that if he did lend it to us that she'd prob go bk to him.

damn its so hard..we are gonna go view another house thats going for 84k (we put an offer in one one for 80k its asking prince was 89.995k and they refused it) so theres 1 more house we like in our area thats in our price range the hoseu is bigger than the 1st one but the gardens about 1/4 of the size..so its a question of do we want a hosue thats a little bit bigger and probably needs work.. or a nicely refurbished house thats a bit smaller with a masssiveeee garden for a bit more money.. lol..AAHH!!!!

 

[bunnymom1980]

dunno weather to just get our parents to help us out then pay them bk later..
so hard!

We borrowed £4500 from my parents to pay our deposit last year. We would have never raised the money otherwise

 

[ShineyHappyPeople]

so its a question of do we want a hosue thats a little bit bigger and probably needs work.. or a nicely refurbished house thats a bit smaller with a masssiveeee garden for a bit more money.. lol..AAHH!!!!

Try and get both and then withdraw your offer on the other house once they have accepted your bid for the other. If these are the only 2 houses in your price range, in your area, then either would be nice

I know how you feel though, we raised the funds from parents and even put a couple of grand on credit cards to get the money. We have a self cert mortgage as were self employed which means we could have borrowed what we wanted within reason, if we raised 10% deposit so our credit card balances didn't really matter.

Best of luck with it

 

[happy-chick]

We've borrowed to be able to buy, 9k off my gran & grandad to pay off our loan and 5k off my mum & dad (they got a loan on our behalf)... all have been worked out and we've agreed monthly payments & term etc

 

[jennywren]

Also they wouldn't (or most wouldnt) see a 5k personal loan or CC as a problem and wouldnt reduce your multaples for it.

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?

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

We had a 10k loan & it reduced the amount we could borrow by over 30k so it does make a big difference what other credit you have.

Must depend on who you go with then - I have a 13k loan and OH a 9k loan and 4k CC's and it didnt make a jot of difference to us really give or take a few k but nothing noticeable. And my comp (Building soc) has always been in the money mags as one of the more responsible lenders!

Anyway I hope you manage to raise the moeny mate.

I have had a look and Abey National still offer a 100% mortgage so you would just need to find your sols fees - check out the LINK if you are comfortable that you can afford it then go for it. Even if there is a crash on an £80-£90k house it wont be half as noticable as a £500k one for example - also as long as its big enough for you to live in if your circumstance change (ie unexpected pregnancy) you can ride out any crash and as long as you can make your monthly payments you wont see a problem - plus as an example we had our 1st mortgage at 100% and had it 3 years this summer paying cap and int and its down by 5k so in no time you can reduce it to 95% incase you ever want to remortgage for a move and they will only offer 95% LTV

good luck

 

[happy-chick]

Also they wouldn't (or most wouldnt) see a 5k personal loan or CC as a problem and wouldnt reduce your multaples for it.

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?

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

We had a 10k loan & it reduced the amount we could borrow by over 30k so it does make a big difference what other credit you have.

Must depend on who you go with then - I have a 13k loan and OH a 9k loan and 4k CC's and it didnt make a jot of difference to us really give or take a few k but nothing noticeable. And my comp (Building soc) has always been in the money mags as one of the more responsible lenders!

Yeh could be, it was with Natwest bank and also our financial advisor told us the same. They take into account your monthly payments on each borrowing and take that off what u can afford to pay.

 

[Princess_Puddles]

Also they wouldn't (or most wouldnt) see a 5k personal loan or CC as a problem and wouldnt reduce your multaples for it.

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?

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

We had a 10k loan & it reduced the amount we could borrow by over 30k so it does make a big difference what other credit you have.

Coor 30k Is alot to be reduced by a 10k loan, My OH has a bit of debt but hopefully it'll be paid off soon (Might be moving in with the Inlaws for a little while to get us sorted) but anyways I got a mortgage quote for us based on my OH just having a 10k loan/debt and it only reduced the amount we could borrow by 15k, that with Halifax though, I noticed you said yours is with Natwest and have heard they are very tight on mortagages.