Can I get a loan if I have income but no job?

Harold17

I have a monthly income of £1100 which has been paid into my bank account for the last 7 years. I am not employed but would like to get a loan , is this possible without proof of income?

Tixy

Your own bank may be willing to lend to you as they can see the regular amounts being paid in to your bank account.

Where is the income from? self employment? returns on investments? income from property?

Do you complete self assessment tax returns that show this income? if so you could potentially use that as proof of the income if asked.

Harold17

I have asked my bank, NatWest, who I have banked with for 37 years and because this is money which is gifted from family property rents and helping daily with disabled family members they wouldn't consider a loan with no proof of being gifted that money. I have had a loan from them before but when I was employed.

Tixy

In that case it seems unlikely any other lenders would consider lending to you.

How much were you looking to borrow? Over how long a period?

Harold17

That's what I thought but it was worth asking. I was hoping to borrow £10,000 over 5 years, but it's not the end of the world if I can't get a loan, just would have made life easier.

imoneyop

Harold17 wrote: »

That's what I thought but it was worth asking. I was hoping to borrow £10,000 over 5 years, but it's not the end of the world if I can't get a loan, just would have made life easier.

Even if you were able to prove the income, you would struggle to get a loan of 10k with c. 13k income.

tinkerbell28

You know what? Affordability scenarios like this make me laugh.

I'm a housewife who only has her husbands income, whilst a couple of the kids are so young and we move.

I've got market leading deals, so 18 months interest free cards, £1000's of available credit on prime cards.

My bank would give me 25k no questions asked. Pre approved, allocated to my sole account on internal score. No credit check, just by my account balances.

Based in what they see going in from OH, :eek:.

Madness

iolanthe07

It isn't madness - it's the result of having a wealthy husband!

imoneyop

tinkerbell28 wrote: »

You know what? Affordability scenarios like this make me laugh.

I'm a housewife who only has her husbands income, whilst a couple of the kids are so young and we move.

I've got market leading deals, so 18 months interest free cards, £1000's of available credit on prime cards.

My bank would give me 25k no questions asked. Pre approved, allocated to my sole account on internal score. No credit check, just by my account balances.

Based in what they see going in from OH, :eek:.

Madness

There is big difference between you and the OP. Your bank have assessed you on what your husband earns, which will be part of their internal scoring - so as far as they re concerned, you are a low risk because there is a regular income coming in. The OP has no income, apart from the "gifts" he gets, which as far as the bank are concerned could stop at any time. He is therefore seen as too much of a risk.

If you went to another bank, where you couldn't rely on their knowledge of you, you would be very unlikely to be offered a 25k loan.

BugsyBrowne

tinkerbell28 wrote: »

You know what? Affordability scenarios like this make me laugh.

I'm a housewife who only has her husbands income, whilst a couple of the kids are so young and we move.

I've got market leading deals, so 18 months interest free cards, £1000's of available credit on prime cards.

My bank would give me 25k no questions asked. Pre approved, allocated to my sole account on internal score. No credit check, just by my account balances.

Based in what they see going in from OH, :eek:.

Madness

I have to agree with this as I've said before when this has came up.

My mate who's a Bird has a husband on very poor money but with working tax credit and all that lot from benefits etc she's the one who get the leading rates and recently got 7.5k loan no trouble from her bank and has 60 plate mini on finance.

She's a housewife

tinkerbell28

I got the cards for s75 and for one of those days when your bank goes down. At his insistence. For peace of mind. As oh works away a lot and I have to do the day to day house running.

It's mental though IMHO. As although I could probably get a good wedge if we split :cool: it's not guaranteed if he decides to run off with a blonde 21yo and stopped paying into the house. Then I'd be screwed until I got a job :rotfl: