My employer letting me down :-(

sonic79_2

I have my mortgage with the Abby, who are now Santander. It's only 87k, and I applied recently to borrow 7k for home improvements. They gave me a great repayment option of only about £40 a month over 3 years.

All was going well with the process until they asked for my last 3 payslips. One was about £2500 and the others were in the region of £1500. Over the course of a year, my income is about 20-22k and varies because I work on different 'projects' each month and get paid different amounts. I've been with the same company for 7years and have always earnt about the same per year.

So Santander ask for an employers reference for some reason (never missed a mortgage payment in the 4years I've had my mort) and my employer very helpfully goes and tells them that I'm not employed Full Time with them. Great. Never mind that I put in all the hours, work OT for no extra, work antisocial hours and weekends etc.

So Santander refuse my loan on this basis. To say I'm upset is an understatement :mad:

Looking around for a personal or secured loan now, but as I have an old CCJ (all paid up but how do I remove it from my record) and a student overdrawn overdraft I'm paying off, the best I can find is about £180 per month. Can't afford that!

Any suggestions on which companies to try - I don't really need self cert, as I have payslips etc and can prove my income, but as I'm officially kind of 'freelance' I might have to pay more.

Just going for a browse around the site :T

Tixy

Hi

You mention you were offered a £7k loan to be paid off at £40 a month for 3 years??
£40 x 36 months only equals £1,440.

I know this doesn's solve your problem but if you are comparing £40 to £180 on a personal loan then you are not comparing like with like.

If you paid no interest at all a £7k loan over 3years would be £194 per month.

sonic79_2

Hi Tixy, forgive me, not very bright with these things! They called it additional borrowing. The fixed term was for 3years but I suppose the whole thing was spread over the term of my mort - that make more sense?!

CLAPTON

I would think that you might want to discuss things with your employer

and I can't immeditately see why abbey mind whether you are full or parttime if you can prove your income

_Andy_

I think the OP means 'full time' as in a permanent contract rather than how many hours they do.

sonic79_2

CLAPTON wrote: »

I would think that you might want to discuss things with your employer

and I can't immeditately see why abbey mind whether you are full or parttime if you can prove your income

Me neither, but apparently thats their new policy. My case was declined, then it went to an appeal but still declined. :mad: