Sainsburys underwriter loses the plot

rawlings135

My ex husband walked out 3 yrs ago leaving me to pay a hefty joint loan on my own. The payments per month are £298. per month. I have just received a court order with a financial settlement of me paying the rest of the loan off in exchange for the family home. I must get his name off the Sainsburys loan within 28 days otherwise I could go to prison (scary when you have 2 children).
I rang up Sainsburys to get apply for a loan and was refused on the basis of my credit score which incidently is 999 with experian (because I am asssociated with the ex he is bringing my credit score down according to Experian). I have never missed a payment with any of my finance/mortgage accounts.
The new loan I was offered on application was £82 per month. I was told to put a report together, a copy of my credit report/bank statements/decree absolute etc and send it to the underwriter which I did.
The underwriter has refused it again on the basis of my £200,000 mortgage even though I am selling the property next year and I have £160,000 equity in my home.
So Sainsburys would rather I go to prison and not be able to pay anything whilst in there and struggle paying £298 per month, than pay £82 per month and get all of there money next year!!! Something very wrong somewhere!!
Oh and the help they give is absolutely zero.... Do not go near them with a barge pole.....

robpw2

why would you go to prision ?

BugsyBrowne

Lol you don't go to prison for not paying a loan.

opinions4u

It's not up to Sainsburys to resolve your marital problems.

What makes you think you'll go to prison?

If you're taking ownership of the house, could you raise the money on the mortgage to pay off the loan?

Apples2

Someone had certainly lost the plot, but it isn't the underwriter.

The advice you have received from wherever you have been talking to is terrible, nobody is going to prison.

prowla

They send you to the debtors prison and you're not allowed out until you've paid it off.

loubel

No lender is obliged to lend you money. As opinions4u says, why not just add the loan amount to the mortgage when you remortgage to put the house into your sole name.

mynameistallulah

rawlings135 wrote: »

I rang up Sainsburys to get apply for a loan and was refused on the basis of my credit score which incidently is 999 with experian (because I am asssociated with the ex he is bringing my credit score down according to Experian).

Bringing it down from what? 999 is the top score (not that it means anything)!

antrobus

rawlings135 wrote: »

...I must get his name off the Sainsburys loan within 28 days otherwise I could go to prison (scary when you have 2 children)...

Are you sure?

Normally the way these things work in divorce (or similar), is that the court will order one party to take on the responsibility of the joint loan, and to use their best endeavours to persuade the lender to transfer the loan into their sole name but otherwise indemnify the other party against any claim the lender might make.

DCFC79

antrobus wrote: »

Are you sure?

Normally the way these things work in divorce (or similar), is that the court will order one party to take on the responsibility of the joint loan, and to use their best endeavours to persuade the lender to transfer the loan into their sole name but otherwise indemnify the other party against any claim the lender might make.

Wonder who gave the OP the wrong advice,

KingElvis

What a load cobblers somebody has been telling you, utter shizzle.

A trip to pokey may be on the cards though..........