Financial Ruin Already?

unluckymike

I'm in need of some serious advice, please:D

I have recently finished a loan with a family member and have no credit out-goings apart from your usual D/Debits for insurances, elec, tv bill etc.

However, I dont earn much, bout £1k month after tax and have £900 left to spend but I'm having difficulty getting loans for £2/3k already. My last full credit payment was over a year ago and I will be moving house soon and I'm worried that if I can't get a £2k loan what chance do I have getting another mortgage??

I'm with Leeds and Holbeck with the mortgage the now but still worried as I'll be moving to a new pad later this year?!?!?!?!

ANy help would be great!

financial_solution

unluckymike,

How come you have £900 pm to spend out of £1,000 pm and yet you have a mortgage andother bills. Is your mortgage that small?

regards,

mark

CheeseOnToast

Out of curiosity - Why do you need a 2/3k loan if you have 900 per month left over ?

Debt_Free_Chick

Mike, I'm confused too

unluckymike wrote: »

I'm in need of some serious advice, please:D

I have recently finished a loan with a family member and have no credit out-goings apart from your usual D/Debits for insurances, elec, tv bill etc.

So what are your usual outgoings?

However, I dont earn much, bout £1k month after tax and have £900 left to spend but I'm having difficulty getting loans for £2/3k already.

So if you have £900, can you not save that for 3 or months, when you will have £2/3k

My last full credit payment was over a year ago and I will be moving house soon and I'm worried that if I can't get a £2k loan what chance do I have getting another mortgage??

What do you mean by another mortgage? Do you already have one? Why do you need another mortgage?

I'm with Leeds and Holbeck with the mortgage the now but still worried as I'll be moving to a new pad later this year?!?!?!?!

Do you mean you're buying another property? And keeping the one you are currently living in?

Could you trouble us with more information please?

Sugar_Junkie

unluckymike wrote: »

I have recently finished a loan with a family member and have no credit out-goings apart from your usual D/Debits for insurances, elec, tv bill etc.

That might be part of the reason. If you've not had much credit history running a loan or credit cards/store cards they will often be unwilling to offer a personal loan I'm afraid. They like to see you're good at repaying them before giving you one (bit of a catch 22 really).

You also make it sound like you've made applications to a few different companies to get a loan. If so you need to watch that. Too many credit searches in a short space of time can go against you.

Apart from that the others are right. You'd be much better just saving some of your free income for a few months rather than shelling out extra for a loan. As far as I'm aware getting a mortgage is quite different from a personal loan. If you've already got one now why do you think you would not be able to get one again when you move?