Info needed - Personal loan

[Churchill]

There may always be unforeseen reasons for a loan. I found this post after googling "contractor personal loan" - I've been contracting for about 6 years, realise this is against my better judgement but can see no other alternative - to buy my ex out of our property, I need to raise a further £20k. Unless someone else out there has a bright idea, it is situations like these where a personal loan may be necessary.

So, with that background in mind, can someone please advise?

Thanks

Get someone to shoot your missus?

On a serious note, remortgage the house.
(if there isn't sufficient equity then why are you giving her £20k?)

[Pondlife]

Check under the sofa cushions.

HTH

DP or Sas

[Paddy]

Hi All,

I have been contracting for the past 3.5 years now but a newbie on this forum so please be gentle :-).

Anyway's I need some advice and suggestion regarding personal loans for IT Contractors.
I am looking for a personal loan of around £25000/-.

On any on-line application form for personal loans they ask for your monthly income and being an IT Contractor/Self Employed operating through my own ltd firm ,what monthly income should i mention? (My minimum salary or the contract rate)?

Also does anyone have any suggestions about specific lenders who are more considerate towards Contractors.

Any suggestions would be welcome.

Thanks for your help!

Joe

The bank will not loan you money for a personal loan if you are self employed. You can get a business loan but at a much higher rate.

Presuming you are employed by your own ltd co, you could say that you are employed. Good luck but I don’t think you will get very far in the current climate.

[TestMangler]

Check under the sofa cushions.

HTH

DP or Sas

Sorry to hijack your thread OP, but on a contract a few years ago in Bristol, we were all out at the pub with a few permies there too. One of the permies started talking about needing a loan of £10K and how hard it was to get it. One of the contractors pointed to one of the other contractors and said, "Why don't you ask Chris, he's got more than that in the ashtray of his Lexus' Oh how we laughed.....