Personal Loan Advice

[simplyred50]

Hi,

I've always found Piston Heads to be excellent at this sort of thing. I've recently applied for a personal loan for £60k over seven years for a new car that I wanted to buy. I've been turned down, whilst there's no problem with affordability the reason that they have given is that I have a property that's let out as a holiday let and therefore does not have a tenancy agreement. The property I live in is rented and my old property is the holiday let. I do this because it's more lucrative, I can see where they're coming from but it feels odd that this stop them from proceeding. I've never heard of them ever checking that you have a tenancy agreement??

Anyone encountered anything similar, they've said other than that there's no reason why they couldn't proceed and to consider taking a longer term tenant on which would fix this problem.

Crucially it means I won't buy the car because I don't want a more expensive lease option and the plan here was to buy this vehicle and keep it for the next twenty years.

Thanks

[randlemarcus]

Run the holiday let through an offt he shelf company, lease the property to that company. Boxes ticked, huzzah! Silly though.

[simplyred50]

Got it, this is why I love Pistonheads.....