Loan approval based on quarterly commission

NVN2020

Hi I’m struggling to find lender to approve a £40k loan as I am on a quarterly commission salary. Even though I can afford it. Does anyone know lenders still helping the likes of us please? Thanks 

Clive_Woody

You will struggle to get an unsecured loan for that amount, especially if your salary is variable based on commission. 

[Deleted User]

You will struggle to find a loan for 40k but the way you are paid will make it impossible

Thenonameleague

NVN2020 said:

Hi I’m struggling to find lender to approve a £40k loan as I am on a quarterly commission salary. Even though I can afford it. Does anyone know lenders still helping the likes of us please? Thanks 

What's the loan for ?

Why not save X amount per quarter or adjust your spending so you can save more ?

You have any savings ?
Maybe use the time to build some and revisit the idea once s suitable amount is built up.

Anamox

Thenonameleague said:

What's the loan for ?

Why not save X amount per quarter or adjust your spending so you can save more ?

Best advice ever... cancel your Spotify and Netflix subscription and save £40k in a few months.

[Deleted User]

Anamox said:

Thenonameleague said:

What's the loan for ?

Why not save X amount per quarter or adjust your spending so you can save more ?

Best advice ever... cancel your Spotify and Netflix subscription and save £40k in a few months.

Nice strawman, replying to something that is nothing at all like what you quoted.

Saving and reducing spending rather than trying to get a massive unsecured loan (which won't be given) is good advice. Commission is not reliable, no sensible lender is going to do a loan on the basis of an income that could be £0 if there is a downturn