Joint Loans ?

Cadence01

Hey,

Me and my brother are after a £9000 joint loan, my brother has a average credit rating, And I have a neutral credit rating (never taken credit out), Were very stuck on who to apply through (joint loan bad credit lenders is what were after), Does anyone here know of any lenders that specialise in bad credit as I don't want t apply through loads as this shows up on my credit report, We were thinking maybe norton or yesloans or someone like wentworth, We realiy need this money by the end of next week, If anyone can advise me which lenders are more likely to accept I would be extremely greatful.

Kindest regards

Michael

CHR15

This idea spells absolute disaster for one of you.

Madness I say, Madness

Cadence01

CHR15 wrote: »

This idea spells absolute disaster for one of you.

Madness I say, Madness

Not at all, The money is for a new build appartment (first months rent + 2 months upfront + the deposit) then it gives us money to spend on the place, And also we will put away £2k for future financial emergancys aswell as leaving £1k in the bank to give us a 6 month head start on the loan, we've discussed this through with each other, We're abit weary about who we go through ( I paid £45 upfront to a lender and later found out I had been scammed), also some of the money is to pay to get into a trade, I'm uncertain as to who to go through.

[Deleted User]

I would avoid going to a bad credit lender, it doesn't sound like you really need too and the interest rates are ridiculous....speaking from lots of experience here and have worked in a bank, can't you go to the bank where one of you holds you bank accounts - they sometimes offer better loan rates for existing customers, or even try a compare website...??

Debt_Free_Dreamer

Why not borrow £4,500 each, independent of each other.

Then you are not depending on each other to pay their share.

You are also more likely to be able to borrow the lower amount much easier.

Are your parents able to help?

CHR15

Sounds like you only need £6k anyway, split that down to both of you getting £3k loans and it sounds much more manageable.

Borrowing less will leave you with lower repayments.

It really is not a good idea to borrow money in order to make the repayments on it.

You both sound like Sub Prime borrowers so your options are going to be severely restricted.