loan - refused

spud101

You would usually get a letter telling you how you can appeal. If you have checked your credit records and they are clean then I would write in. It's what I did some time ago when I was applying for a credit card and they gave it to me.

Tixy

LOR - for use to be able to help you need to give more info

How much did you apply to borrow? How much do you currently owe (excluding the mortgage)?
How much do you earn per annum?

Who do you bank with? who did you apply for a loan with?

Do you know what your partners credit file looks like? does he have problems on his file such as missed payments / any ccjs etc?

RichGold

Wutang wrote: »

Think you might want to look up the words "consolidate", "debt" and "loan" on here - this would be post number 134, 823 asking why they have been declined.

LOR1984 wrote: »

how do i look these up ?

Eh?

LOR1984 wrote: »

i am seperate to him ... we are togeher

You may also want to look up "separate", as you obviously aren't if you have a mortgage with him.

LOR1984

Tixy wrote: »

LOR - for use to be able to help you need to give more info

How much did you apply to borrow? How much do you currently owe (excluding the mortgage)?
How much do you earn per annum?

Who do you bank with? who did you apply for a loan with?

Do you know what your partners credit file looks like? does he have problems on his file such as missed payments / any ccjs etc?

hi i applied to borow 12k and i owe exactly 12k
i ank with barclays and applied with santander as have always had loans and mortgages with them

my partnes file is fair he doesnt have much credit one credit card and a phone bill no late payments

if we are finacially linked does this now mean i am forever tied to his credit file until we eithe divorce or have paid his mortgage off ?
how would a lender be able to check his credit file ?

THANKS OR YOUR HELP HERE

Tixy

When you have a joint financial product you are financially associated. You stay associated indefinitely.
If a couple pay off all joint debts / close all joint accounts (including the mortgage) then can then register a notice of disassociation with the credit agencies which stops the link on your file.

Even if a couple divorce if they still have a joint mortgage they stay linked and continue to impact on each other's ability to get credit.

Because of the link the lender will see data from his file as well as data from your file.

Because you already owe £12 and want to borrow another £12k then any new lender will view that as total debt of £24k (in case you go out and blow the new money on a car or holiday or whatever).
For that reason they look to see if you can afford to service £24k of debt on your income. If they think you can't then that is likely the reason you are declined.

As a general guide people generally struggle to get new credit that would take them above 50% of their income - so unless you earn more than £50pa you are likely to struggle.

On top of that if you've recently taken on a new mortgage that will add to the possibility that they think you cannot afford to service all this debt. You also mention a lot of unused credit - again when they look at worse case scenario you might max out all your credit as well as spend the new loan - so could end up in over £30k of debt and not be able to afford to service it.

BackOnTrack

Yes I'm sure you're about as much a legitimate lender as I am the legitimate pope and why you are using a ukraine based email account for your legitimate lending operation. Until the post is deleted on't even think about emailing this guy as all that will happen is you will be ripped off in some fashion.