Will it be declined?

Edith14

My oh has applied for a joint £10k loan.

He earns £42k and I earn £17k

We have a good fixed rate mortgage for 5 years set in April (which i sorted througha broker so all info provided on my debt) and he has applied for loan at same bank (but he isn't aware of my debt so not disclosed it)

My debt is £9k and I pay on time and slightly more than min payment and no issues with paying and most on 0% cc to help me clear it quicker.

We have no other debt and not big spenders....

Would our loan application be declined because he failed to disclose my debt?

Many thanks for your advice.

19lottie82

Not just declined. If it is a joint loan/ application (is this the case, you say your OH applied for a loan mortgage which doesn't really make sense) and you didn't declare your existing loan when asked about outstanding debt commitments, then that's fraud.

Edith14

I applied for the mortgage through a broker and declared everything and is all set up etc....

My oh is applying for a £10k joint personal loan with same bank.

I haven't told him about my debt as its not his debt and didn't want to tell him and I'm paying it fine.

But realised he's applied for joint loan and obviously not declared my debt as he doesn't know (and don't really want him knowing if I can help it).

If I contact the loan provider and explain and tell them about my debt will this help the situation? With my debt taken into account we can definitely afford the loan, but worried we may be declined because unknowingly to him he's not put all my details on the form. All my fault :-( :-(

Edith14

I'm really worried now that me not telling my oh about my outstanding cc debt will affect the joint personal loan :-( and it will be declined and it won't be his fault. Just couldn't face telling him. I thought it would show when they did a credit check so will see if we can afford or not. Thinking about it now was very silly of me to think of it that way. By no means did I ever think of fraud. Makes me feel sick at the thought :-(

This is my only debt and he has no debt. Will I make it worse contacting the loan provider and explaining that he wasn't aware of my debt.

HappyMJ

Edith14 wrote: »

I applied for the mortgage through a broker and declared everything and is all set up etc....

My oh is applying for a £10k joint personal loan with same bank.

I haven't told him about my debt as its not his debt and didn't want to tell him and I'm paying it fine.

But realised he's applied for joint loan and obviously not declared my debt as he doesn't know (and don't really want him knowing if I can help it).

If I contact the loan provider and explain and tell them about my debt will this help the situation? With my debt taken into account we can definitely afford the loan, but worried we may be declined because unknowingly to him he's not put all my details on the form. All my fault :-( :-(

Edith14 wrote: »

I'm really worried now that me not telling my oh about my outstanding cc debt will affect the joint personal loan :-( and it will be declined and it won't be his fault. Just couldn't face telling him. I thought it would show when they did a credit check so will see if we can afford or not. Thinking about it now was very silly of me to think of it that way. By no means did I ever think of fraud. Makes me feel sick at the thought :-(

This is my only debt and he has no debt. Will I make it worse contacting the loan provider and explaining that he wasn't aware of my debt.

All I can suggest is you withdraw your application and let him apply on his own. Have you signed anything yet?

Edith14

No he did an online application. Can I just call them and explain that he wasnt aware of my debt and he completed online form on our behalf and i wanted to make them aware before they processed as with my debt we can still afford the loan.

Thrugelmir

Finance companies have a shared resource. You may find yourselves listed here.

http://www.nhunter.co.uk/

Anthorn

Your OH made a mistake which means he's human and not a robot. Be up front and tell them about it before they discover it. The option to withdraw the application will be open but in that case they might not allow another application unless that's what they advise in the circumstances.

Edith14

Apologies But I don't understand.

It wasn't my oh fault about not providing my debt info on the online form as he's not aware.

If I call Monday to explain this before they process would they still think its fraud? With our mortgage I was upfront with everything as I completed the paperwork. This is the only time and I'm trying to rectify it.

Sorry for all the questions......

Anthorn

Edith14 wrote: »

Apologies But I don't understand.

It wasn't my oh fault about not providing my debt info on the online form as he's not aware.

If I call Monday to explain this before they process would they still think its fraud? With our mortgage I was upfront with everything as I completed the paperwork. This is the only time and I'm trying to rectify it.

Sorry for all the questions......

It cannot possibly be fraud if you've given them the information about it. It's only fraud if you knowingly keep quiet and say nothing.

Edith14

So if I call first thing Monday and explain the situation that my oh not aware of my debt therefore didn't know to put on form. I just couldn't tell him and now could have made things worse for us. I feel awful and because of have my debt in control didn't want to involve him (as debt nothing to do with him)

I feel sick at the thought of doing anything wrong.....