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Possible to use £50,000 savings as security to secure a 15,000 loan

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  • Possible to use £50,000 savings as security to secure a 15,000 loan

    My wife and I are in the process of obtaining her marital (full residency rights) visa. You need to have £62,000 in savings to prove you are financially secure. I only have 50k yet as none of the money needs to be spent. Could I use my savings as a guarantee/ security when applying for a loan of 12,000? Would using the money in this way get me lower interest?

    I'm in a highly complex period of my life having spent nearly a decade teaching in Thailand and then circa 2012 I suffered a near fatal car accident which left me in a coma for months. These factors are pertinent as I was able to return to work in Thailand for nine months in 2014 but suffered medical complications so have spent 7 months in the UK not working awaiting NHS treatment I will return to work in September.

    ANY HELP IS TRUELY APPRECIATED.
    Last edited by WEL; 07-27-2015, 04:51 PM. Reason: graphic depiction of accident was a bit much
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