totally confused about loans ..rejected for unsecure

cashmoney_2

ok here it is in brief..

• husband works 35k+
• i'm at home with baby
• good credit score - last time we checked (although only with bank 3 months..H's new job only 2 months in_
• joint application for a Northern Rock unsecure loan rejected
• thinks "we're idiots should have made it in husbands name as i'm not in work"
• take a risk and reapply in his name only - rejected again
• ask alliance and leicester who we bank with they offer us 13.3 percent!! and say this is because they can 'see' that we 'have' another loan meaning the one we're applied for with northern rock.

reeeeally don't want a secure laon as we have 'good' credit...will I be able to get an unsecured one at all... or will I keep damaging my credit record by being refused?

tom188

if your ohs only been i a job for 2 months that could be a problem, especially as youve moved house recently. 2 months is generally still considered to be within a probationary period.

also i fear you have now made too many credit applications to get a decent loan at the moment. i suggest you leave it a few months so that (a) your situation is more stable (b) your applications are not so recent.

are you both on the electoral role?

jonesMUFCforever

Your salary is £35k + - great BUT if your outgoings are also £35k or more then a loan is not affordable.

That is what a bank is looking for these days - to be honest you have not provided enough information for us to speculate why you have been declined but would agree with Tom that to do any more applications in the short term will cause long term damage to your credit rating.

tom188

also you need to consider your current debt, including your mortgage as well as the amount you want to take on. if its high relative to your ohs salary (ie your mortgage is near the maximum multiple of the salary) already i dont think any lender will want to lend more to you at a good rate, particularly in the current climate of increasing defaults.