Getting a loan whilst on maternity leave

Anne2

Hi all
I am currently on maternity leave and applied for a loan to help pay rent, bills etc (I have no debt) until I return to work. The loan was "declined" however because I do not have the means to repay the loan. It was my intention to use some of the loan to make the monthly payments until I return to work in December. Apparently this is not allowed. Any ideas, any way around this!??!? Thanks!

jonesMUFCforever

What income do you have now?
Does your partner not contribute?

Anne2

I'm now on SMP & child benefit for 3 children. My partner wants me to go back to work now. When I'm working my wages cover rent, bills, childcare etc. His wages are saved to get a house in the future. He doesn't want to put saving on hold. Hence me trying to get a loan.

skintandscared_2

With no current income, you will not get a loan.

I'm sorry and I don't mean to be rude, but I've never heard anything quite so strange as one partner saving all their income while the other scratches around for money to pay bills/rent and has to contemplate getting into debt just to keep a roof over the family's heads!! :eek: I think your partner may just have to accept that while you're on maternity leave his wages are needed for bills!!

jonesMUFCforever

Tell him to sling his hook - you can get everything paid for then and you can screw him over with the CSA!
You will be quids in - never have to work again until the kids are grown up.

Anne2

I see what you're saying and how it looks. The money that is saved from my partners wages is for the future of us and our children. From his point of view if he uses his wages for bills then that is money we can't save for our futures. If we applied jointly for the loan would that make a difference?

charleyroo

Sorry OP but don't think it's going to be possible. Lending critera is tight now - and not sure the bank would accept the loan as a form of income to pay the loan :S

Perhaps if things are getting a bit tight you could 'lend' money from your partner out of his savings; it doesn't really make MSE sense to pay APR when you have money sat in savings

skintandscared_2

Are you serious?! If you get a loan, you have to make repayments and there is interest piled on top. You actually HAVE the money already to pay your bills, interest free, stashed away in his bank account. What part of that makes the slightest bit of sense?!!!

skintandscared_2

When are you due to go back to work? You could always top up the savings once you're earning a wage again.

Anne2

It makes no sense, I know. In a pickle really. He's threatening to leave if he has to cover rent. I think it's relationship advice I need, not financial!

Adx

Are the savings in a joint account? Cos if you've been paying for everything and the savings are all in his name I'd be a little bit worried if I were you!