Unsecured Loans and Shared Ownership mortgages

FannyMac

This week I applied for a loan with 'yourpersonalloan.co' and was declined. It seems this may have been to do with a change in the way banks view housing associations' shared ownership schemes (part mortgage/part rent).

When once I would have been seen as a home owner, I'm now seen as a tenant, and this particularly good deal became closed to me.

Has anybody else come across this new rule? And can anybody advise where I can go for a loan at 7.6%?



Thanks in advance

TheCreditMuncher

Well I am too in a similar situation right now and its very difficult when applying for a loan (Still going through process)

Me and the lass are joint mortgage holders , not married but civil relationship

We have joint finances for the mortgage and bills etc and the rest we split 50/50 and pay to our seperate accounts if that makes sense.

Im finding it difficult to to explain its joint finances but Im applying for the loan and its not a joint application so my monthly income of £2100 is not the only income to pay for mortgage etc etc , frustrating and I cant offer any advice on where to go for a loan.


good luck and hope somebody else can help you