Joint LoansIf you would like to take out a joint loan for any purpose there are many borrowing options that can enable more than one person to go on the loan application. The joint loans available through our panel of lenders range from £3,000 to £150,000 and can be used for virtually any purpose. The other party to the loan is often your partner, a relative or your spouse but this does not have to be the case for all scenarios - friends or associates may also join together for a loan.
To find out how much you could borrow through a loan for joint borrowers and get a free quote showing all the facts and figures before you make any commitment. Please complete our short online enquiry form (no credit search on this form) or speak confidentially to our UK based loan team for free on 0800 0159 295 or dial 0330 0536001 (mobile friendly) and we will start work on getting your loan arranged immediately.
There are many reasons why our clients decide to take out a joint loan. Perhaps you have shared credit, loans or joint debts and would like to share the responsibility for combining them into a debt consolidation loan to refinance them, or maybe you are just after making an important purchase together, either way we may have options that can help you to meet your goals.
Common Joint Loan Purposes For Our CustomersThere are a multitude of reasons why you may decide to pair up and take out a loan together.
Loans for improving your home, buying a new family vehicle, buying a property , refinancing family debts, obtaining a static caravan or holiday home abroad, business or commercial finance, the list goes on. It is also worth noting that two is not always the maximum number of borrowers, some joint plans allow three or even more applicants for the finance.
Can You Borrow More With A Joint Loan?Whatever the driver behind your seeking a joint loan a fair question to ask would be, ` can it mean we can borrow more?`. There is an advantage to it in that you if you both have an income, even if some of the income is part time that money can be used to check affordability, helping you to reach joint lenders underwriting criteria.
There are many other factors that are taken into account such as what your individual outgoings are and your credit history but in some cases the lenders will be happier to see two people committed to repaying the loan than one. It is a well know point that big projects cost big money and but many of us simply don`t have enough savings to fund them even in our joint saving accounts, in which case an any purpose joint loan arranged via My Sort of Loan could be the answer for you. Give us a call for free or complete our short online enquiry form and a joint loan may allow you to borrow more money than you would alone and could help you afford to finance your goals together.
How Do Larger Joint Loans Work?For big loan amounts of between £15,000 and £150,000 our lenders look for security for their loan, this is by way of a secured loan second charge on your property. Lenders understand that longer time frames may be needed to repay large loans so terms are available from 5 to 25 years to avoid stressing your cash flow. If you are a homeowner or mortgage payer and the property for security is in joint names then you will normally both need to apply for the secured loan as you both own the property. Generally a key feature of either secured or unsecured joint borrowing is that you are both responsible for the upkeep of loan payments, if the loan payments are not met then the missed payments will be on both of your credit histories and may affect both of you obtaining loans in the future.
There are probably many questions you have on the matter of joint loans, so before embarking upon that route give our team a call for free on 0800 0159 295 or enquire on line and we will give you the facts and figures without obligation so you can decide whether to go ahead or not. If you are a couple who are homeowners then you could benefit from a joint loan for that new bathroom, kitchen or conservatory, maybe it is time for a family holiday of your dreams, a new family car or some landscaping of the garden. You may have lots of credit cards, store cards and personal loans which are playing havoc with your family accounts and making it difficult to cover the household bills while keeping food on the table as well as keeping up the repayments. Refinancing your debts into one joint loan could help make your family finances more easily manageable and give you some breathing room and allow for more family time such as nights out and holidays.
Bad Credit Joint LoansLife likes to throw challenges down from time to time for the vast majority of us. Personal financial circumstances are no exception, scenarios such as a change in work circumstances, a period of illness, being made redundant or a family break up - to name but a few - can put pressure on anyone`s credit situation. This can lead to credit arrears, defaults on cards or loans, mortgage arrears or even county court judgements all of which impact on your access to loans or other finance. It is fair to say that having a joint borrower looking to help you obtain the loan you are considering could be a big help in a bad or adverse credit situation. If one of you has been unfortunate to incur some bad credit but the joint applicant has had a better run recently then that could enhance your options and even give you more loan choices. Even if you have both had some credit issues combining forces may help you to take out a loan. As with any credit all loans are subject to status and affordability, but if you are looking to turn the corner on your finances a joint application may help you make it happen.
Joint Loans ExpertiseMy Sort of Loan have many years of experience in matching our customers with the right loans for them and we have extensive knowledge of joint loans. Our large panel of lenders gives us access to some of the most innovative and most recent loan products on the market, allowing us to offer our customers a tailored no obligation joint loan proposal which is based on your circumstances and requirements and includes payments arrangements to suit. Our finance team are UK based and directly employed by us and they are waiting for your call on freephone 0800 0159295 to talk you through the options our lenders have for you. Alternatively fill in one of our simple joint loan enquiry forms and start your journey towards your financial aspirations today.
Buy To Let Joint FinanceWith regards to loan security the property used for the joint borrowing does not have to be the residential property you live in. If you have a buy to let property that you rent out or another home you own, perhaps inherited, then this could be used for a secured buy to let loan instead of your home.
Any Purpose Joint LoansWhen we say any purpose loans we really mean it, acceptance of the loan is generally based on your circumstances and affordability rather than what you require the money for, so long as it is legal of course. Time stands still for no-one and saving for the things you need to get sorted right now or want to get sorted can take too long a time, especially when you have a family budget to consider. That is why the lending market has been established for so long, consumers need to borrow and lenders want to lend. You might want to use a joint loan plan to get on top of some finances and take your family on a well deserved holiday before the kids get too old, maybe somewhere exotic and sun kissed, a joint loan can help send you on your way. Maybe the house has been hard worn by the family growing up over the years and you want to refurbish it for a fresh new look, now could be the time.
Your growing family may have the need for a new family vehicle, one with good safety features and room for a couple of kids, maybe you want to invest in a camper van or motor vehicle to take the family on extended trips to the UK or Europe, My sort of loan helps many customers achieve their finance requirements.
Home Improvement Joint LoansIf your home needs a little sprucing, maybe in the form of a loft conversion, new carpeting or flooring throughout in your outdoor areas or even an extension, lean too, orangery or a conservatory to help you better utilise your space then a joint loan could be just what you need. If you own the property and have equity then you may decide to spend on your property to maximise its potential as a living space for you and your family to enjoy for years to come, we have years of experience in matching couples like you to the right joint homeowner loans so find out if we could help you today and get a free no obligation quotation.
Tuition fee Joint LoansAnother reason for couples needing joint loans is to help their children with their tuition fees, it makes sense for a couple to want to jointly invest in the education of their children to help secure their future. Your child may have a talent which you want to encourage, perhaps there is a higher reputation school or university you would like them to attend which you don`t have enough in savings to pay for or you want to help them get through higher education without them running up big debts.
Many parents whose children are going to university are all for the idea of them furthering their education but are uncomfortable with them being burdened with debt for most of their lives and understandably want to help out where they can. Perhaps your child has grown up and wants some industry specific training to strike out with their own business which is not included in the curriculum. My sort of loan knows that you don`t want your children to suffer because they cannot afford the education you want them to have, our lenders can help by offering family joint loans to homeowners who want to invest in their children`s future.
Our customers trust My Sort of Loan to match them to the right loans for whatever purpose, if you would like to see how much you could borrow and what it would cost then get in touch with us today and speak to one of our finance team who will walk you through the whole process and you could be on your way to realising your financial aspirations in a shorter time than you might think.