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Joint loan application better than me on my own?
Hi (me again 
),
I've just been refused a consolidation loan from my bank (rbs) of 13500
I have a (grrr) 8000 cahoot flexi loan
and want to pay that off, borrow 2k more so we can move house, and pay off a
2k overdraft and a 1500 credit card. We worked out the payments would be way cheaper than currently, even with the extra 2k we need for furniture and a deposit on a new (200£ a month cheaper) flat.
I was refused on the grounds that I don't have enough income. I earn 23175, all the above debt is in my name but me and th gf pay it off together, she earns 20000(ish) and has a standing order for 625 a month going into my account to cover rent and bills etc. I know the bank refused me because they can't account for the money she gives me, nor the fact that she pays half the rent, therefore it looks like I have way too much outgoing. They also can't account for the fact that I currently pay (every month, without fail!) all the bills, repayments, which work out more a month than the loan repayments.
We're stuck in an expensive flat, with a 1100 deposit due, but only when we move out, which we cant because we cant afford the deposit on a new place.
Anyways... would we be better off applying for a joint loan with her bank (or another bank). Surely with both our incomes we should be ok??
Any help / comments would be great! cheers! Dave
),I've just been refused a consolidation loan from my bank (rbs) of 13500
I have a (grrr) 8000 cahoot flexi loan
and want to pay that off, borrow 2k more so we can move house, and pay off a
2k overdraft and a 1500 credit card. We worked out the payments would be way cheaper than currently, even with the extra 2k we need for furniture and a deposit on a new (200£ a month cheaper) flat.
I was refused on the grounds that I don't have enough income. I earn 23175, all the above debt is in my name but me and th gf pay it off together, she earns 20000(ish) and has a standing order for 625 a month going into my account to cover rent and bills etc. I know the bank refused me because they can't account for the money she gives me, nor the fact that she pays half the rent, therefore it looks like I have way too much outgoing. They also can't account for the fact that I currently pay (every month, without fail!) all the bills, repayments, which work out more a month than the loan repayments.
We're stuck in an expensive flat, with a 1100 deposit due, but only when we move out, which we cant because we cant afford the deposit on a new place.
Anyways... would we be better off applying for a joint loan with her bank (or another bank). Surely with both our incomes we should be ok??
Any help / comments would be great! cheers! Dave
Official DFW Nerd Club - Member no. 784 - Proud to be dealing with my debts
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