Getting a Loan

[Chri5]

Could you not apply for another credit card, use it and then transfer to a low interest credit card transfer deal?

That post code checker is carp. For a start our post code covers about 10 houses.

Then there's our history (or lack of).

Mortgage paid off, equity over £500k, savings in to six figures, cards cleared monthly automatically, no loans, no bad debits and a score of 870.

 

[pampers]

" affordability criteria " that's what screwed me when trying to change my mortgage last week.

£100k equity in house , wanted £20k for extension i had plans drawn up for, looked at deals etc extended term by 7 years(didnt really want to but was suggested to ) so payments would have ended up £75 a month less than they have been for last 13 years and was told i didn't meet the affordability criteria even though never been a missed payment.
Its so hard to get money at the moment.

 

[freddiemercurystwin]

" affordability criteria " that's what screwed me when trying to change my mortgage last week.

£100k equity in house , wanted £20k for extension i had plans drawn up for, looked at deals etc extended term by 7 years(didnt really want to but was suggested to ) so payments would have ended up £75 a month less than they have been for last 13 years and was told i didn't meet the affordability criteria even though never been a missed payment.
Its so hard to get money at the moment.

Did you use a FA or source the loan yourself?

 

[pampers]

went to high street lender that mortgage is with now ,going to see a FA next week.

 

[freddiemercurystwin]

FA's are a necessary evil though a good one can make a big difference.

 

[joe-90]

I bet they offer you sweet FA.

 

[diyicant]

Now got a credit rating of 697 which is 25 points worse off than 24 hours ago. All because I've tried applying for loans. No wonder I can't get a loan everytime I reply and get rejected my chances lower. Anyway I can get this better? MIRACLE?!

 

[joe-90]

Does you company have a credit union?

 

[diyicant]

just done a google search and doesn't appear so.

 

[joe-90]

You'll have to get your parents to go guarantor then.

 

[chainsaw_masochist]

diyicant: Could it be the case that you are not on the current electoral register? This can well have impact on obtaining credit.

Anybody know how it is possible to obtain a credit reference without going via Experian/Equifax?

 

[diyicant]

Hmm... I was thinking that. I recently moved out of my parents and into my first property December of 2012..??

 

[freddiemercurystwin]

diyicant: Could it be the case that you are not on the current electoral register? This can well have impact on obtaining credit.

Anybody know how it is possible to obtain a credit reference without going via Experian/Equifax?

Are you a debt dodger?

 

[diyicant]

No pay every month in full

 

[joinerjohn]

Maybe. just maybe, this http://www.bbc.co.uk/news/business-21715167

explains in simple terms , why the banks aren't lending money.