Has Anyone Got A Loan on Their House Without A Job

happyfella

So, I am getting fed up now. I need a downstair toilet and bathroom. I have been told for the last four years that it will be done through a grant scheme where they pay £5,000 and I pay the rest through an attachment to the property if I sell it.

I was told early in the year that after all this time waiting that it would 100% be done before Xmas. Still it has not even been started and I have still not even had any communication from them.

I keep on getting fobbed off and now I am fed up as it causes me a lot of pain going upstairs.

So, I have decided to fund it myself but I would need to get a loan on the house. So, I would like some advice please and to know if anyone has got a loan on their house while not working and who i could go and speak to.

I have around £80,000 equity on my house and around £46,000 to pay off my mortgage over the next 8 years.

If anyone has done this and you please let me know

Jimm_Scope

I'd be very careful with financial advice personally. I would go see an accredited advisor who can tell you exactly how it might affect you and what the risks are. I used to work for a bank and even as front-line call centre handlers, we'd move a lot of money and do banking tasks for people but it was drilled into us that we CANNOT give financial advice. There's so many nuances and risks to the person receiving the "advice" that they should really go see an actual advisor.

I'm sorry this probably isn't the answer you're looking for, but I hope you work something out.

happyfella

Jimm_Scope said:

I'd be very careful with financial advice personally. I would go see an accredited advisor who can tell you exactly how it might affect you and what the risks are. I used to work for a bank and even as front-line call centre handlers, we'd move a lot of money and do banking tasks for people but it was drilled into us that we CANNOT give financial advice. There's so many nuances and risks to the person receiving the "advice" that they should really go see an actual advisor.

I'm sorry this probably isn't the answer you're looking for, but I hope you work something out.

Not looking for financial advice, i am asking if anyone has done it

durhamjaide2001

I think this is in the one category would one of the lovely admin please move it so @happyfella gets the right support please. 

Jimm_Scope

It's a bit of a difficult discussion to categorise, as it's not really about benefits, nor is it about cost of living crisis. So I can see why happyfella put it here, it doesn't fit nicely into any of our other categories really?

happyfella

woodbine said:

@happyfella just a thought would a stair-lift be cheaper ? As for getting a second mortgage not easy if your income is from benefits, not impossible, might be an idea to speak to your current lender failing that a whole of market mortgage advisor. One other thought have you considered speaking to your MP to see if he can get things moving ?

Not thought about the MP no. My doctor has got involved and he is not happy at the delay. What I need to do is to find a financial advisor and see about getting a secured loan. I should not have to be in this position but due to the delay, i am being forced into it. If we cannot get a secured loan then we will have no alternative but to sell the property and rent a bungalow.

Jimm_Scope

If your MP is one of the few who cares then they can really help poke the right places to get a response going.