Home Improvement Loan

Flowerinjannah

Current situation: Repayment Mortgage with Halifax
Current value of Property: £160,000
Mortgage left to pay: £75286.67 including ERC
Early Repayment Charge (ERC): £2189.36
Monthly repayment: £443.67 by Standing Order
Rate: 2.24% for 2 years from January 2018

Need a Home improvement Loan: £25,000
Repayment period: 2.5-3 years
Experian Credit Score: 999/999, No CCJs or bankruptcies, no missed payment in the past 12 months.
MSE Affordability Score: Good
Credit Hit Rate: 71%
No other debt.

Part time income: £5980 per annum
Adult Son's income: £24000 before tax (pays about £250.00 per month for a car loan)
Tax Credits: £7800 per year
Child Benefit: £192 per month
Total household income: £40,000 per year approx

Looking for guidance on applying for a loan that does not leave a mark on my credit report. I tried MSE Loan Eligibility Tool and Moneysupermarket.com, both showed same results.
Admiral: 95 % chances, 3.90% APR (rep), 2 years, £1504.37 Credit fee (CF).
Ratesetter: 95% chances, 6.7% APR (rep), £2585.19 CF
Tesco: 90% chances, 3.00% APR (rep), £1157.04 CF
Sainsburys Bank: 60% chances, 2.8%APR (rep), £1079.86 CF
Sainsburys Bank: 60%, 3.7% APR (rep), £1427.18 fee

What next? Where to ask first?

EDIT: As I see that I am ineligible for a loan in my sole name, which loan providers accept a joint loan application as son has a full time income.

Thank you for your guidance.

foxy-stoat

How much other debt do you have and is your salary over £50K?

System

Your adult son's income is irrelevant unless they would be a joint applicant and you cannot include it.

Assuming you don't intend them to be a joint applicant with your income of £16k you stand no chance at all. The most you can borrow on a mortgage is 4.5 times income, your outstanding balance exceeds that so a remortgage is out of the question.

You would fail any affordability test for a 25k loan applying on your own. The repayments on the 3.6% APR one over 3 years would be over £700 a month, how would you afford to repay that out of a £16k salary when the loan and mortgage repayments would be almost your entire monthly take home?

Assuming a joint application would your son be willing to pay a large chunk of it out of their income with no possibility of being repaid because they'd have to in order for you to afford to be able to pay for your gas, electric, food etc because you simply don't have the income for such a loan.

Flowerinjannah

Yes, son currently supports and is willing to pay for monthly energy bills, council tax (136.00 per month), phone bills and food. I deal with the mortgage only.