Need personal Loan - Bad Income, good credit rating

Zoom-Zoom

Thought I'd take a leaf out of TheKeyMaker's book and ask for some advice of my own regarding a loan, although my circumstances are more the other way round.

I'm needing around £30k, ideally by the end of the first week in June and am only needing it for a shortish period of time til some money comes in from a job I'm doing (expect 6 months-ish).

Current finances as follows :

Been with A&L for 15 years and have the premier plus account with £200 overdraft (balance £0) which I never use and flexiplan account with £1810 limit (balance £0). Also have a mortgage with them for £74k over 25 years and am into my third year of paying that back at £430/month. I also have a loan with them of £5k over 2 years at £223/month and am just starting my final year paying that back. (I have had a lot of loans with them over the 15 years).

I also have 2 cards, a Capital One with £6k limit (£5300 available) and an HSBC with 2k limit (£1500 available), both on 0% purchases deals taken out at the start of this year. Application for MBNA card at the same time was refused. I have a current application in for a 0% purchases Halifax card and also an Egg Money card (to get the money off my credit cards should I not get the loan).

Always paid all bank related stuff on time (ie. loans/mortgage/overdraft) but sometimes been a month late paying utils. Had a default with British Gas end of 2005 which I never knew about as they sent to my old address but this should've now been sorted out and removed from my file.

Now that's where all the good stuff ends...

Credit scoring wise, I'm not on the electoral roll for personal reasons and I'm not in the phone book either.

I don't have a regular job either. I work for myself and run a couple of subscription websites which turn me enough cash to pay all my bills, and the rest of my income is pretty much made up from wheeling and dealing.

The last deposit into my account was back in October last year and showed a balance of £5500. I've basically been paying for all day-to-day things by cash on the whole and the money in my account has been slowly dwindling down each month as the mortgage, loan and DD payments have been taken. I've just deposited another £7k last week. My concern is that if I apply for a loan they will look at the through-put on my account over the recent months as a big deciding factor whether to give me the money or not and they will see that there's been nothing for the best part of 7 months (until this recent deposit) and refuse it.

Can anyone advise on how best I can get my hands on £30k within the next 4 weeks taking the above into consideration please? I could probably manage with £20k if it came to the crunch but I'd be struggling. Is there any way I can find out how much they'd be prepared to offer me based on the above circumstances without actually applying? I don't want to get a knock back for £30k if they'd offer me £20k, as I think there's a time frame before you can reapply(?)

Thanks all!

dannynixon

I don't think you can get a personal loan (unsecured) for more than 25k.

Zoom-Zoom

dannynixon wrote: »

I don't think you can get a personal loan (unsecured) for more than 25k.

Yes, a secured loan is fine.

Can anyone help with my situation please? Can any people working in loan departments offer advice?



Thanks.

Snooze

Difficult one. To be honest the odds are stacked against you I'd say. For that kind of amount they're gonna be wanting to see a regular (and decent) income and you can't provide that because of your ad-hoc working pattern.

Dunno.. you might just pull it off if with the time you've been with them, especially as you've had loans with them in the past and all above board.

My advice would be to hold out for 2 more months if possible and see if you can either borrow or "recycle" some cash from somewhere. If you put, say, another £3k into your account next month, followed by the same again the month after, that might be enough to "prove" to them that you've enough cash coming in to make the repayments as banks do like to see a regular through-put of money like you say yourself.



Rob