Need Advice before applying

cwarwick

Hi,

Heres my current situation, I have a loan with egg with £11800 remaining, an egg credit card with about £300 on it at the moment and a £4700 limit, I've recently got my first mortgage (within the last couple of months), and my salary is £26000.

Now, I want to upgrade my car and also move my loan to a better rate, so would like a loan for about £19000.

I'm worried about getting rejected because of the recent activity on my credit file, due to the mortgage and my previous loan I have about 6 checks on my credit file.

Do you think I'm likely to get rejected for this?

Also, I'm thinking about going with Cahoot, is there any reason this would be a bad idea?

Thanks

Rafter

I think you are really unlikely to get such a large loan on top of your mortgage - but good luck!

Cahoot is a good loan because it is flexible - but you may have trouble because they are very selective about who they lend to.

You may have more luck getting a 'life of balance' credit card for your additional borrowing which you can transfer to your egg card and then to your current account to pay for the new car.

Good luck.

R.