Getting a secured loan?

redsports8

hi all,

I am currently have a mortgage with Northern Rock.
The balance of the mortgage is 50000 and house is worth 110000.

I need to borrow 25,000 for home improvements.

My husband has his own business (builder) and I work for him doing all of the admin and secretarial work.

We have two loans already

How likely am I to be accepted for a secured loan with northern rock?

Thank you

Tixy

Is the mortgage in your name only or you and OHs name?

How much do you both earn? Is the business a sole trader, partnership or Limited company? Do you have accounts going back 3years to prove your income?

What other loans do you have? what other credit do you have available to you (credit cards, catalogues, overdrafts etc)?

redsports8

Hi thanks for the reply.

the house is in mine and my partners name.

He is a sole trader who employs craftsmen to work with him.

Yes we have accounts but last year on paper we only mage 4,000 profit as were renovating our own house.

A bit more info: I am 58 and my Husband is 51.

Would age go against us?