home
in

Loan Question

Last post Tue, Oct 06 2009, 5:46 PM by maxsteam. 2 replies.
Sort Posts: Previous Next
  •  Tue, Oct 06 2009, 5:46 PM

    Re: Loan Question

    You should first try high street banks and building societies, in my view. If the equity isn't in your own name, you will be looking at an unsecured loan or, if you want to repay the loan in the short term, an overdraft might be better. The "money" tab at the top might help too.

    It is possible to complete a divorce without solicitors, particularly if matters are not contested. Involving solicitors could mean that you end up splitting assets three ways instead of two.

    • Post Points: 5
  •  Tue, Oct 06 2009, 5:42 PM

    Re: Loan Question

    Ask your Solicitor to apply for Legal aid on your behalf, this will eradicate the need for you to apply for any loans. The Legal services commision who grant legal aid on financial grounds can recover the money which it spends on a case from the property which is recovered by a successful legally aided client.

    This is particularly applicable in matrimonial cases and is probably the reason for the availability of Legal Aid in matrimonial cases, where the Legal services commission is reasonably certain of recovering what it spends. Repayment can, and very often is, deferred by the Legal services commission placing a charge (which bears interest, as indeed a loan would) on the property, such as a house, therefore you pay the legal aid bill back from the equity released once the house is sold.

    • Post Points: 5
  •  Tue, Oct 06 2009, 1:43 PM

    Loan Question

    I am looking for a loan of around £6000 as I am currently going through a divorce so need the funds for Solicitors. I have a poor credit rating, but have around £90,000 worth of equity in the family home (Hence why I need to complete the divorce proceeding in order to obtain a share of this)

    Could you advise me which companies I would be best approaching for a loan?

    • Post Points: 35