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Are Joint Loan Applications more successful?

Joint Loans

Secured Loans > Our Loans > Joint Loan > Are Joint Loan Applications more successful?

Are Joint Loan Applications more successful?

If you’re considering a secured loan from a lender, you may be eligible for a range of borrowing options, but are Joint Loan applications more successful?

Applying for a joint loan can sometimes increase your chances of receiving credit and may allow you and your partner to borrow a larger amount of money than possible with an individual loan application. However, to successfully apply for a Joint Loan, you will still both need to meet the required criteria and pass any affordability checks.

Successful Joint Loans from Evolution Money

Many people choose to apply for a loan jointly as lenders are often more willing to allow you to secure a more significant amount of money after considering both yours and your loan partners income.

If you’ve previously struggled to be accepted for an individual loan, then a Joint Loan application may prove more successful in getting the loan amount needed. If accepted, a Joint Loan could offer both you and your partner more ease and affordability due to the shared responsibility of manageable monthly payments.

With a Joint Loan, you may be able to receive a better deal on credit with the support of your partner as well as qualify for a larger loan amount. This is ideal for applicants with existing debts, a poor credit score or those whose application for an individual loan has been previously rejected.

Successfully applying for a Joint Loan can lead to many opportunities with couples and loan partners choosing to use their loan amount for a wide range of purposes. These range from upgrading the family car, paying for a home extension or booking some flights and taking a much-needed holiday. If you currently owe money elsewhere, a Joint Loan can also be used for debt consolidation by paying off your existing debts with your loan and instead making manageable monthly payments with the support of your partner. However, this may involve extending the lending terms of the debt and increasing the total amount owed over time.

Apply for a Secured Joint Loan today

To prove eligible for a Joint Loan from Evolution Money, all applicants must meet the following criteria:

  • Be Aged 18 or over
  • Be a Homeowner
  • Be a UK resident
  • Be able to afford the repayments comfortably from your regular income (We’ll carry out an affordability check)

Before making a Joint Loan application, please ensure that both you and your loan partner understand the commitment required and the terms and conditions of the Joint Loan. Failure to make the monthly payments on any secured loan can cause severe financial issues, including potentially losing your home through repossession.

As both of you will be 100% responsible for repaying the loan, rather than just your share, it is crucial that you are both able to do so in case of any change in circumstance. You should also be aware that once you engage in a joint debt with someone, your credit file will be linked to theirs and missed payments may result in a bad credit score for the both of you. Therefore it is a good idea for both parties should check their credit ratings before applying for a Joint Loan.

Evolution Money offer Joint Loans from £5,000 to £50,000.

If after considering your borrowing options, you decide a joint application is likely to be more appropriate and affordable for you and your partner, then you’re in the right place.

At Evolution Money, we love saying ‘yes’ to our homeowner loan applicants, and a Secured Joint Loan is a fantastic option for partners who would like speedy access to capital and plan to pay it off in an agreed time-frame that suits them. We also take more than just credit history into account, so even if you possess a bad credit score or were rejected when applying for a loan in the past, you may still be eligible for a loan with Evolution Money.

Over the years, we’ve provided thousands of Joint Loans to our satisfied customers ranging from £5,000 to £50,000 and are proud to offer flexible lending terms from 1 to 20 years and competitive rates.

So, if you’re looking for a borrowing option with manageable monthly repayments, then why not achieve your financial goals with a secured joint loan from Evolution Money. Call one of our qualified loan advisors on 0161 814 9158 for more information or a free, no-obligation quote that won’t affect your credit score. Or, complete our straightforward and secure loan application process here and potentially receive your loan amount in a couple of days.

Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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Our Address

Evolution Money,
9 Portland Street,
Manchester,
M1 3BE


Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

Complaints:
0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 9 Portland Street, Manchester, M1 3BE. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.


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