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Help with loan please...

yiannisz
yiannisz Posts: 2 Newbie
Just applied for alone and have not been successful, the loan was £18,000 and I earn £20,000 a year how much am I allowed to borrow
The loan period was for 60 months....

What is a reasonable amount to borrow in my case....

I checked my credit rating and it's excellent.... 980 with experian

Thanking you in anticipation!

Comments

  • stephane_2
    stephane_2 Posts: 3,076 Forumite
    If you don't have any other debt then a lender on that salary might be willing to lend you £8000 to £9000 but again it will depends on each individual circumstances....
  • Macca83_2
    Macca83_2 Posts: 1,215 Forumite
    What are you planning to get with this loan? 18k on a 20k salary just isn't gonna get accepted. 10k would probably be the maximum
  • Cheers for your advice....
  • 19lottie82
    19lottie82 Posts: 6,027 Forumite
    Part of the Furniture Combo Breaker
    rule of the thumb is.....

    half of your current salary - any current debt = what you may be able to borrow

    but of course other factors apply
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Just applied for alone
    Is this a new way of saying you've asked your partner to leave?
This discussion has been closed.
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