Loan - Pay in 12 months???

Loan - Pay in 12 months???

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qwerty123

Original Poster:

60 posts

188 months

Sunday 14th June 2009
quotequote all
To cut a long story short, I lent a friend about £3000 about two years ago. Its been coming back in dribs and drabs, but I'm in a situation where I need the cash now. He's not in a grat financial position are getting screwed over by a non-paying rental company on a foreign property and his flat in this country is sitting empty so he's paying the mortage on that too. He now owes me about £2000.

Regardless, is there any sort of loan that he can take out and not have to start paying back immediately. I'm sure if it was in 12 months he should be a better situation. Should he be able to get a decent loan if he has properties - what sort of interest should he be looking to pay. I've seen that the interest on regular 12 month loans is quite reasonable.