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What is the Loan to income ratio these days?
northernsouler
Posts: 7 Forumite
in Loans
Hi,
I would like to apply for an unsecured loan of £15,000 for home improvements and I wondered what the loan to income ratio is these days.
My income is £1500 per month and my available after bills etc is £600 per month.
Would this be enough for £15,000 or would I get less than this?
I would like to apply for an unsecured loan of £15,000 for home improvements and I wondered what the loan to income ratio is these days.
My income is £1500 per month and my available after bills etc is £600 per month.
Would this be enough for £15,000 or would I get less than this?
0
Comments
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There's no hard and fast rule, but a general rule of thumb seems to be that lenders will consider approximately 50% of gross income.
An unsecured loan of £15,000 would therefore require a salary of £30,000."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0
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