A little bit convoluted!

andthatmakesone

I'm looking for a loan but need a little bit of help with the legality..... interested?

Part 1 - the background information
I live with my partner and we have a certain way of handling bills that has worked well for us - we have separate bank accounts, and 99% of all bills (the only exception being her mobile) are paid via DD from my bank account.

This obviously eats up a lot of my wage, so we use her wage as our disposable income.

We'd like to get a loan, and my partner has asked her bank the question as a single applicant and they have rejected (she didn't have a great credit history before we met).

I have a good credit history, and have never been refused in the past.

Part 2 - The idea
Here's the killer question - is the following completely illegal?

I've looked at some application forms for loans, and they all (quite rightly) want to know your monthly outgoings.

If I list my outgoings as they actually occur, I will undoubtedly be refused, as they will clearly see that I have limited income leftover.

However, if I twist the picture and list 50% of the outgoings (with the assumption of the other 50% being "paid" by my partners wage), I would stand a good chance of being accepted.

I'm keen on budgeting and I'm happy that we can afford the repayments (via a standing order from her account to mine).

Am I a dirty cheating fraudster if I follow this route?

jonesMUFCforever

You have to answer truthfully - what if they asked to see statements showing the bills being paid?
Have you considered applying for a joint loan?

If you have beware though as her financial association with you will bring down your crdit rating.

barbiedoll

I don't think that you're being a fraudster, even though you technically "pay" most of the bills, you still count her money as income, and you are using it to live on. My OH and I have a similar system as I earn more than him and my job is a lot more secure than his at present. You could get your partner to start putting money into your account as her share of the bills, even if you draw it out later for her to use, it will still show on your bank statements as a deposit. If they need to see statements, the balances will show that you have "disposible" income that will enable you to service the loan.