Film, Media & TV1 min ago
Loan for Deposit
I have been trying to save for a deposit to buy a flat, I am about 3,500 short and its just getting harder and harder to get to �10,000.
I have access to a personal loan from barclays which I have not used before, is it worth taking 3,500 personal loan from the bank to add to my deposit so i can buy my flat?
Any advise on this would be great. Thx
Answers
No best answer has yet been selected by debs_70. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.I agree I'm afraid. Taking out a debt in order to get another debt is never a good idea. Save what you would have been paying back to Barclays and you'll get there soon enough.
The mortgage company will do a credit check anyway and see that you've borrowed a substantial amount recently, and they don't like this. Best to wait and save I'm afraid.