Best way to apply for loan?

Godspeed

Hi,

I'm currently looking for an unsecured loan of £4000 over 5 years to cover starting up self employed (£3250 actually for business - £750 to clear my credit card).The credit card monthly payment would cover the loan amount no problem. I am currently a house husband of 4 years previously employed, then self employed before that.

Now the problem seems to be applying for loans. Most online applications ask for job employment details or self employed details. Would it be best to apply for a 'joint' loan or just get my other half to apply?

I've been turned down by Northern rock although since my application went in they've disappeared from the loan finder charts totally.

Had loans before but always with my bank (tsb - with them for 27 years) never had any Credit problems/ refusals/ ccj etc etc. Tsb keep uping my credit card limit yearly.

Registered in my address for 1 1/2 years - previous address which I supplied was of 6 years.

So to finalise is it best to actually give these comapanys a ring an explain my situation so they can inform me from the start of my chances or continue to try getting one online?


Any help appreciated.


Cheers

johannamse

To get the best rate you have to create the most favourable and safest credit risk to the loan company, so I would apply in your partners name if she has a job. I would also think about your reasons for the loan. I think Business loans are higher rates and they may demand a business plan. Not that I am condoning lying, but it may be easier to say that you need the money for new bathroom/kitchen.

Godspeed

Thanks very much for your reply. I've noticed increasing over the years that its becoming the norm to be elastic with the truth!  The totally honest people seem to get a raw deal!  Just a quick question - does the 'joint' option really effect the loan that much? Or is it only to help you qualify for a larger loan amount?

The 3 I sm looking at (I realise it changes daily) are Virgin/Cahoot and Nationwide.

Any 'avoid like the plague' comments I need to know?


Thanks again



Edit: Question thrown open to everyone not just directed back at Ann - I know what its like when people keep reposting asking someone questions

Robert_Sterling_3

Not that I am condoning lying, but it may be easier to say that you need the money for new bathroom/kitchen.

Hmmm.

Robert_Sterling_3

The totally honest people seem to get a raw deal!

Honesty is still the best policy.

Godspeed

Honesty is still the best policy.

Which I never disputed

I've seen people get into management positions with a CV that was obviously put together by pinocchio.

As my other half is in employ then I suppose her honesty is better than mine (Won't please the housewives out there!).


Cheers