Declined for loan - tenant or owner?

DCFC79

Romeo2014 wrote: »

The majority of the £700 is tied up elsewhere (ie food shopping etc). I've just dropped the credit limit on my Barclaycard for 4k (was 9k now 5k) thinking that would have free'd up lending elsewhere - doesn't seem to have happened though >.<

When you said " outgoings £900pm - left over £700 " I took that to be you had £700 left once everything was paid for, shopping done etc.

Thrugelmir

Romeo2014 wrote: »

I've just dropped the credit limit on my Barclaycard for 4k (was 9k now 5k) thinking that would have free'd up lending elsewhere - doesn't seem to have happened though >.<

Doesn't alter the fact that you owe £14k. A sum which is going to take years to repay by the sounds of it.

Romeo2014

Sorry no the £700 is used for living/card payments etc - the £900 is the critical `must pay` stuff.

One of the sites I used said to omit the card payments from the monthly outgoings, as these will be zero once the loan is taken out (basically moving payments from 4 places into 1 - but for a similar amount, so makes sense).

the majority of it will be paid off in October anyway, the loan was just an idea to keep things simple/straight forward/manageable until then.

BillJones

Romeo2014 wrote: »

25k salary - 14k credit cards moving to 14k loan - outgoings £900pm - left over £700 - wheres the problem?

The majority of the £700 is tied up elsewhere (ie food shopping etc).

It's annoying when people change the story, and drip-feed information when asking for advice.

You claim that you have £700 left over after outgoings, and now you say that you have more outgoings, taking up your £700.


Why? Why not give accurate information upfront?

Gaz83

Romeo2014 wrote: »

Sorry no the £700 is used for living/card payments etc - the £900 is the critical `must pay` stuff.

You don't regard food shopping as critical 'must pay' stuff?