anyone help me on a money issue?

[Whatsmore]

just wonderd does anyone know if I approached my bank to borrow say 40,000 but I don't own my house I rent so havnt got security as such would I be laughed off?the money would be to buy a fish and chip shop also does anyone know what freehold and leasehold means?

[campo21]

First, it is best to highlight the difference between leasehold and freehold. Having a leasehold means a person has the right to use a property for a set period of time, usually in return for a rent.
At the end of the term, the property reverts back to the freehold owner. In contrast, a freehold is where the property is owned for an unlimited period of time.
While there are various exclusions, most residential tenants who own leases granted for more than 21 years at the outset, and have owned the lease for at least two years, will generally be entitled to apply.

For the bank loan you will need a guarantor fella.

[Whatsmore]

cheers campo very enlightening.two things crop up up here though one is will you be my guarantor and two can you stop saying fella it makes you sound mancunion

[JimmyJazz64]

and two can you stop saying fella it makes you sound mancunion

[campo21]

cheers campo very enlightening.two things crop up up here though one is will you be my guarantor and two can you stop saying fella it makes you sound mancunion

I'll never say it again i'd hate to sound like getition

[klassnic]

whatmore

NO Chance !

unless you place your parents house as a guarentee

[winsomeyen]

Whatsmore, Unfortunatly if your stated circumstances are correct I would not be too concerned regarding Freehold and Leasehold

[leebwfc]

You can get up to 24,999 as a personal loan from most banks unsecured, thats if you pass the credit bollox. Anything above needs to be secured on something.

Good luck with it!

[campo21]

I said it 7 posts back lee it's called a guarantor.

[rossendaleareaclaret]

just wonderd does anyone know if I approached my bank to borrow say 40,000 but I don't own my house I rent so havnt got security as such would I be laughed off?the money would be to buy a fish and chip shop also does anyone know what freehold and leasehold means?

Don't own a house but want to borrow 40k ??????????


Good luck with that soft lad