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Secured Loan Question for LLR VISA

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RUBYRUBYRUBY
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Secured Loan Question for LLR VISA

Post by RUBYRUBYRUBY » Tue Jan 15, 2019 2:16 pm

We have a house worth 235,000 paid for outright. We are both unemployed but studying. The spouse visa ILR is at the end of this year. 6-month countdown starts soon

I am trying to limit the damage this is going to do to our studying for the qualifications. Because I only earn 3800 a year part time we cannot re-mortgage. This is not an option, however:

Can I take a secured loan out for the 62k . The secured loan would be guaranteed against the equity of the property?.
Or do we both have to quit university and get jobs?
Last edited by RUBYRUBYRUBY on Tue Jan 15, 2019 2:19 pm, edited 1 time in total.
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CR001
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Re: Secured Loan Question for LLR VISA

Post by CR001 » Tue Jan 15, 2019 2:19 pm

My understanding is that you cannot use a 'loan', which has to be paid back, to meet the financial requirements.
Char (CR001 not Casa)
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