PPRuNe Forums - View Single Post - Loans, best way to do it?
View Single Post
Old 18th June 2012 | 12:25
  #13 (permalink)  
Poose
15 Anniversary
 
Joined: Aug 2007
Posts: 151
Likes: 0
From: UK
Unsecured Debt

My advice;

Polish up the credit rating and eliminate any outstanding debts. Provided you have a reasonably well paid and 'secure' (This bit turned about to be a joke for me...) job that you have been in for over twelve months, then I don't forsee a problem.

I was working as an Airworthiness Engineer around two years ago, on a salary that was slightly above the national average with an 'excellent' credit rating. I managed to obtain £20,000 from Santander with monthly repayments of around £475 a month. It's a lot, but I don't have any family finances to back me and I could not go secured.

I was also open and honest about what I was planning on doing with the money. The most that can be obtained 'unsecured' in the UK is £25,000 and I believe that can be taken over seven years - but not many banks do this.

All the best!
Poose is offline