best loan company for yes decision?

joey298487

Hello,

i need some advice does anyone know the best loan company to apply for we are trying to borrow 8.5k and we have a comnbined salary of 38k.

i have tried sainsburys and they said no.

does anyone more of a more generous lender that might say yes?

paddyrg

Well it all rather depends on more than just your salaries, you also need to account for other borrowing, credit history, etc.

If you're clear of defaults with shiny records, try zopa?

yorkshire-lad

Your bank would be your best bet as they know how you handle your money,ingoings/outgoings etc.

You say you have a 'combined' income of 38k, but then say 'I' have applied.
If it's you who had applied for it then joint income doesn't matter,they will look at your salary.
And unless it's around 22k+ then you will probably find it hard to get a loan of 8.5k.

I'd suggest trying your bank now,if they decline then I would wait another 3-6month before applying again.

BugsyBrowne

yorkshire-lad wrote: »

Your bank would be your best bet as they know how you handle your money,ingoings/outgoings etc.

You say you have a 'combined' income of 38k, but then say 'I' have applied.
If it's you who had applied for it then joint income doesn't matter,they will look at your salary.
And unless it's around 22k+ then you will probably find it hard to get a loan of 8.5k.

I'd suggest trying your bank now,if they decline then I would wait another 3-6month before applying again.

I can't see him applying in another 3-6 months will be a any different decision as the one he just got.

Gorgeous_George

If you both earn £19k, maybe two smaller loans (one each) would be the way to go.

GG

yorkshire-lad

star-fire wrote: »

I can't see him applying in another 3-6 months will be a any different decision as the one he just got.

no it probably wont, but if he makes more than 3 applications in a very short period of time, it will look to lenders that he is desperate for the cash and will be more likely to turn him down.

obviously the above is not written in stone, but this is one of the general rules which people go by.

if his bank turns him down, then he will probably not get a loan (at a reasonable apr) anywhere.

KingElvis

All depends on your hsitories and what you're like with money.

If you've bad credit and lots of debt nobody will lend you a bean, if you're good with money then try your own bank.