We've got a DIP in place after a couple of attempts, We have a lot of credit card debt so affordability has been an issue. Had a chat with broker on Friday, it's all finally looking positive and he was going to submit the full application.
Just sorting out reservation fees and bits of paperwork to send over, and husband has just cheerfully told me that he's applied for a debt consolidation loan so that all his payments are in one place and this will be less than his credit card outgoings so 'this should help with affordability!' He hadn't thought about the fact that this would just come up as another loan application and would look really irresponsible. He is mortified - he just thought it was a positive step and hadn't thought about the credit search etc...
I'll call our broker first thing - but does anyone think there's any chance of us getting this sorted once it's all explained?
He applied for the loan last Thursday and is just waiting to hear if it's been approved or not. If it has, he'll do as he said and use it to pay off all other debts, which obviously we'll be able to prove. The new payment would be less than his minimum credit card payments. If not, our situation will be exactly the same as it was when we got the DIP.
It's Leeds, if that is helpful.
Any views welcome ... I'm worrying anyway!