unsecured loan for over 75's

[Mayday1]

is it possible for my mother who is 77 years old to obtain a small unsecured loan of around �7000 as she would like to fit a new kitchen and bathroom to her property.

[CheekyChops]

A lot of places won't lend to pensioners, however there are still a few that will. It really depends on your mothers income, the lender will need to be satisfied that she can afford the repayments.

The minimum amount for a secured loan is usually more than �7K though.

She could get a 'lifetime' mortgage, where no repayments are made. The capital and interest are repaid upon death when the house is sold. I believe they can be very expensive though. Here is one that NatWest do. Other lenders probably do the same type of thing.

[CheekyChops]

Oops, sorry I didn't read the question properly - I thought you said secured loan! The first paragraph of my answer still applies though.

[bensmum]

Does she have a bank account and if so has she asked there? I don't know what the situation regarding unsecured loans will be but if she owns her property she should be able to get something secured on that.

[staceywalsh]

No its not possible, because in UK unsecured loan you can get up to 2000 pound by direct lenders like Unclebuck, pounds to pocket, British Lenders, Onstride etc.