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Hi Edwin, I only work part time and my credit file shows £26,000 in unsecured loans. My credit score is good at 915 and I've never missed any payments. My husband pays for the £16000 unsecured loan through his business (we originally got the loan in both our names). The remaining unsecured loan is £10,000 for an existing car finance agreement which we will settle before getting a new car. I'm worried that although my credit file is good car finance companies will be worried by the level of unsecured debt. If I get refused can I put a new car finance agreement in my mother's name and pay the finance and drive the car myself? Thanks, Emily
Hi Emily, have you considered making a joint application with your husband? Is this a possibility? There shouldn't be any issues in getting yourself approved to be honest as you have a good credit score. How much finance were you looking for and do you have a deposit? If you do get declined there is a possibility of placing the finance in your mothers name - does she have good credit too? Actually, if your husband has a fair / poor credit rating have you considered adding your mother as a guarantor? Have a good weekend. Regards, Edwin