When I first applied I looked through posts and information on applying whilst having debt and the general answers were;
“that IIRC are not interested in your net worth just that the funds are liquid (ie you can have a loan but the loan can’t be used to show proof of funds)”
After receiving a message today on my account I can confirm this is not true as the case officer clearly outlined;
my bank account - debt amount = settlement funds
As my settlement funds were less than the minimum using the above formula I have been given 30 days to submit updated bank details to show I have enough funds to cover the minimum amount cic ask for AND the full amount of the loan.
Basically any new applicants ensure you are either debt free or have accrued additional money to cover any loans or credit card debts, it took them 7 months to tell me this so it’ll save you having to sort it later down the line.
“that IIRC are not interested in your net worth just that the funds are liquid (ie you can have a loan but the loan can’t be used to show proof of funds)”
After receiving a message today on my account I can confirm this is not true as the case officer clearly outlined;
my bank account - debt amount = settlement funds
As my settlement funds were less than the minimum using the above formula I have been given 30 days to submit updated bank details to show I have enough funds to cover the minimum amount cic ask for AND the full amount of the loan.
Basically any new applicants ensure you are either debt free or have accrued additional money to cover any loans or credit card debts, it took them 7 months to tell me this so it’ll save you having to sort it later down the line.
