Would you lend a stranger a pound?

[Nosha123]

I ask because I have a cunning plan up my sleeve (a la Baldrick!)

I am trying to set up a 'viral email' campaign to try and get people I know plus people they know (and so on) to lend me and my husband £1.

In return - I log all the details of people who contribute (via online banking) and we repay each and every person £1.25.

The money is for us to finish building our house - and the bank wont lend until its classed as 'habitable' so I need to find the money in the interim - then go to the bank - then repay everyone.. inc interest. Reckon the loan would be for just a year - then will be repaid.

My question is - Would people genuinely help us and lend £1 - or do you think people would think its a scam? How can I convince people we are legitimate and will honour each and every contribution?

What would put you off if you got the email - or what would interest you enough to help us both finish our 'dream'?

I am setting up a website where I will show photos of the house and us along with our 'story' and also how the money can be sent to us. Along with a blog which I will write as I go along.

Am genuinely interested in all your comments please - as I still dont know whether this is worth trying or not!!!! THANKS IN ADVANCE!!!!

Nosha

PS: I got the idea from the USA where a girl did the same to raise money for her University fees...

[TheEqualizer]

Lol ......sara

If i was, i'd expect heavy duty pampering, ( massages etc ), unlimited picnic baskets..........................and fish!......yum!

xx

[craft1948]

what makes me laugh is this thing about giving someone your bank details........you give someone, you probably don't know very well.....your bank details every time you pay by cheque........

[jake-the-peg]

Yes Craft - that's exactly what Clarkson said.

To show off he published his details

A few days later he found himself making a donation to charity,

Read the link that I posted for details

[snags]

Craft... in this instance why take additional risk for 25p?

[jake-the-peg]

If I were you I'd use one of the PayPal type services.

And I'd probably not use the monika "Nosha" either when asking for money, it tends to bring up the wrong sort of images ;c)

[craft1948]

why is this site going tits up again....

[B00]

I'm probably being very dim here, but how are you going to eventually get the money to pay everyone back? With a loan from the bank? What will you say the loan is for? What happens if they wont give it to you?

[Nosha123]

To TheEqualizer.. good advice re - going for a larger amount like £20,000
My problem is the type of mortgage we have wont allow a second charge on the property... so I cant secure it on anything! Unless they would accept a promisory note, which I doubt!
I could change the mortgage to another type that would allow second charge - but we have a really good deal and we would end up losing about £350 per month MORE than what we currently pay.. which would leave us even more short to find money for materials!

I'm in a real catch 22 situation!

Unless there are any rich bods out there who can help me? 100% legit - will pay good rate of return on investment.

What to do eh?? What to do???

[Nosha123]

Whoops one of my posts is missing... I wanted to say thanks to all you contributors so far (keep posting!) so many messages in the time it took me to drive home.

To BOO: We will re-mortgage when house has completion certificate and repay all the contributors their money plus interest. Bank have proved us for affordability already but changed their policy on self builders - so wont lend the money. In a word.. we are a bit STUFFED!

[Nosha123]

I keep playing the GMTV competitions in the hope my luck might come in.... I wish I could show some of you the photos of the house as it is currently.. it really is something very special!!!

Sigh... one day.. just keep working hard!!!! Or sell my body maybe??? ;-)

[B00]

Well I for one wish you luck Nosha :-)

Know what it's like to have a dream regarding where you live and kudos to you, you seem to be heading in the right direction.

Keep us posted on how you get on?

[B00]

Oh and as im curious about your house now, any chance you could take pics with a digital camera or a phone and load them onto PhotoBucket or something similar?

[monkeyeyes]

Would it be worth setting up a 'Paypal' account ? Or a Building Society Savings account ?
That way any and all payments could be made into a protected account (yours) and without danger to your contributors accounts. They could confirm details of payments made via e-mail.

Howsabout asking for £1 postal orders ? Relatively risk free. Offer to repay 25p interest plus cost of purchasing Postal Order.

I'd certainly advance you £1.

Best of luck :o)

[ladyalex]

Do you know about ZOPA ???
Low interest loans from real people to real other people. Each person lends a small amount,starting at £10.
Have a look here:
http://uk.zopa.com/ZopaWeb/
You would end up paying quite a bit less than the 25% you are offering.
If the link doesn't work, just google ZOPA

[Nosha123]

thank you all so much for your advice! You have made me determined to somehow see this through! Watch this space.. I could be back asking you to lend me a quid!!!
Am trying to figure out photobucket now BOO so standby for a few pics. I wont bore you with too many!!

[Nosha123]

Does this link work???
http://s928.photobucket.com/albums/ad127/nosha1234/

Some piccies of our 'little project'

We knocked the old cruddy bungalow down and built a 180m2 basement with garage, wine cellar, den, utility, study and underground garden. Garage is accessed by a hydraulic car lift from ground level. Ground floor is spare bedroom, dining, lounge and kitchen, then top floor, more bedrooms with en suites. At bottom of the garden is a self contained summerhouse (which we are living in now!)

It sounds amazing, and it is amazing - but I dont have a pot to pee in now!!! Everything we have is now in this house - but I am totally in love with it!

[B00]

Yep, it worked Nosha :-)

It looks beautiful, im not jealous at all (mumble, grumble, whinge) Thank you for sharing your pics with us. If you do get this scheme going, give me a shout, i'll happily loan you £1.00.

Again, good luck

[Nosha123]

Thanks Boo (it hasnt been an easy ride.. but I'm not prepare to roll over and give up on it !!). And thanks all - you have been so kind! Think I will try and explore the Paypal option first as then lender and borrower are 'protected' and data is kept confidential.

[tamborine]

Y not try the chain game.....similar to pyramid selling. You circulate 25ppl for £1 & they circulate 25 for same and by the time the millionth in circulated you should have netted in £££s. Any mathematicians here to work it out for us?

Or sell me a brick for £1 & buy me out on completion? I'd contribute to that.