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Joint loan or two separate loans?
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Brigmeister30
Posts: 27 Forumite
in Loans
Hi all, we are wanting to get a loan in order to do some home improvements. We are hoping to apply for £25k however would it be more beneficial to apply for two separate loans (one loan each) for half the amount? Are banks giving loans for this much atm? We both have good credit scores and earn the same money so have no issues repaying. Just wondering the best way to go about it!
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Comments
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Probably best go 2 separate smaller loans - I would try and get one with your own bank, if that fails then maybe try and save the £450 minimum a month you would need for the loan repayments for a few months first as if the partner applies as well may get a decline if the banks are not lending at the moment due to whats going on.
After 6 months you should have £2700 saved up, so you will need to borrow less.1
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