my partner and I are currently trying to have our loan approved to buy a house. But when I approached one of the banks they declined our application because apparently my partner missed a payment on a credit check. We were not even aware of this but we did pay it right after we found out. Now the problem is we don’t have enough to pay for a deposit to put down in the house. Some of my friends suggested that I get a personal loan to fund the shortfall in the deposit. I need to borrow around 80% of the property value and with the black mark on my partner’s credit rating, I’m not sure if this is possible. Even though I don’t have any issue repaying $40k to $50k loan, I’m not sure how the bank will react when I ask them to lend me money for a deposit. Will they just laugh if I do that?
Any help will be apprecited.
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