What is the Loan to income ratio these days?

northernsouler

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?

Gaz83

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.