Is is realistic to get 15,000 joint personal loan?

RobinLondon007

Hello everyone,

Me and my wife are looking for opportunities to take out a joint personal loan of £15,000 to pay back over 60 months.
Purpose of loan: new high configuration animation hardware+educational course (motion graphics and animation) for wife.
We both work full time as well as develop our own business in evenings and weekends. It's a new business so our first accounts are still due.
Wife lives in UK 2 years and 6 months (on electoral roll 1 year 4 months)
I live in UK 1 year 11 months (on electoral roll 1 year 4 months)
Monthly income after tax:
Me: £2300 (Full time job+Own limited company)
Wife: £1835 (Full time job + Own limited company)
Joint total: £4,135
Monthly Outgoings:
£2,450 (including wife's Saisnburys personal loan direct debit of £150)
"Free money" AFTER ALL BILLS AND LIVING: £1,685
A lot of the "free" money goes back into our small business currently though. But we would definitely be able to pay up to extra £400 a month towards a new loan.
Our credit scores:
Me: Experian 768, Equifax 677, callcredit 677
Wife: Experian 765, equifax 732, Callcredit 732

Exsisting credit agreements:

Wife:
Contract phone - no late payments
SAINSBURY'S BANK Loan w/ outstanding £3,288 and no late payments
Bank current account with no problems (Barclays)
Four payday loans in last year 2014 - settled straight away with no problems.

Me:
Bank current account with no problems (LLoyds)
British Gas bill w/outstanding £281 (it was a big bill we took over from then our flatmates - long story) and have been paying regularly this last year since we moved to our own place.
No credit cards or other loans ever taken out.

Any advice? Is it actually possible any bank/other loan company would accept our joint application? We are looking at Nationwide joint personal loan as they say to be eligible it is enough to be resident in UK for 12 months (most others require 3 years). Any comments highly appreciated.
Thanks.
Robin

Pixie5740

You're own banks, LLoyds or Barclays are probably your best bets. As your wife has lived in the UK longer would it be possible for her to apply for a loan in her name only?

Also, stop wasting your money on pointless credit scores. There's no such thing as a universal credit score and Expetian, Equifax and Call Credit don't lend money so who cares what score they award you.

jonesMUFCforever

As both of you have been in UK for less than 3 years nobody will give you a loan for anywhere near the figure you require.

dealer_wins

Chance of loan very slim, if not nill im afraid!

forgotmyname

A surplus of £1600 a month and have used payday loans?

Not what a lender wants to see.

dealer_wins

Chance of 2nd post 30% lol

jonesMUFCforever

I say 0%

Just the same chance that Sainsburys would have given the wife a loan.

enthusiasticsaver

Unlikely without security I would say. Also payday loans when you have disposable income of £1600 per month? Or is this really disposable income or are you needing to use it in your business. This would set alarm bells ringing.

Pixie5740

jonesMUFCforever wrote: »

I say 0%

Just the same chance that Sainsburys would have given the wife a loan.

dealer_wins wrote: »

Chance of 2nd post 30% lol

I don't think it's very likely but worth a shot. I'm feeling in high spirits after going to the panto today.

Thrugelmir

forgotmyname wrote: »

A surplus of £1600 a month and have used payday loans?

Not what a lender wants to see.

Is an understatement. Sounds as if finances are not as good as they are being painted.

[Deleted User]

Pixie5740 wrote: »

I don't think it's very likely but worth a shot. I'm feeling in high spirits after going to the panto today.

oh no you're not....:j