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Anyone lending to people with

  • 03-11-2009 4:12pm
    #1
    zebidee
    Closed Accounts Posts: 18 ✭


    Car loans? I have one of €11,000 and was wondering did anyone know of anyone that would consolidate into the mortgage and/or is this is possible?

    Thanks


Comments

  • #2
    cyning
    Registered Users, Registered Users 2 Posts: 3,251 ✭✭✭cyning


    nope just shut the sale of our house and had to clear a car loan of €8000 first + 8% deposit: although if the loans with the credit union it won't show up n the application: that's what our bank advised us to do anyway.


  • #3
    Firetrap
    Closed Accounts Posts: 4,442 ✭✭✭Firetrap


    That's if the credit union isn't a member of the Irish Credit Bureau.


  • #4
    cyning
    Registered Users, Registered Users 2 Posts: 3,251 ✭✭✭cyning


    Yup: we actually cleared it but thats what the building society advised... twice. In two different branches. And 2 mortgage brokers... and they wonder why banks etc in trouble :rolleyes:


  • #5
    Firetrap
    Closed Accounts Posts: 4,442 ✭✭✭Firetrap


    Am I reading your post wrong or did your bank advise you to hide the loan in the credit union? :confused:


  • #6
    cyning
    Registered Users, Registered Users 2 Posts: 3,251 ✭✭✭cyning


    nope you read right: as I said we managed to clear it (just) used the money we saved for our wedding to do so thought it was slightly dodge but thats what we were advised to do when we thought we weren't able to clear it. We were told to "hide" it in credit union


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  • #7
    zebidee
    Closed Accounts Posts: 18 ✭zebidee


    cyning wrote: »
    nope just shut the sale of our house and had to clear a car loan of €8000 first + 8% deposit: although if the loans with the credit union it won't show up n the application: that's what our bank advised us to do anyway.

    Thanks


  • #8
    Fancy That
    Registered Users, Registered Users 2 Posts: 137 ✭✭Fancy That


    zebidee wrote: »
    Car loans? I have one of €11,000 and was wondering did anyone know of anyone that would consolidate into the mortgage and/or is this is possible?

    Thanks


    ...and end up paying for your car over 20-30years or whatever the term of the mortgage is? That would end up been a pretty expensive car .....

    To consolidate the loans would be classed as a mortgage top up and im sure when filling out the froms you will have to say its for home improvements etc. There's no way they would give you this money to pay a car loan ...it kind of defeats the pupose of being debt free when applying for mortgage day one.

    I have heard of loads of people pulling the credit union stunt in the past alright. The trick there is to open in say someone elses name i.e. mother of father. Then it wont show.


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