need a loan without a broker... can anyone help?

Options
gingerkay
gingerkay Posts: 4 Newbie
in Loans
Hi,

I am currently looking to get a loan but I dont have particularly good credit and I am not a home-owner.

I don't want to use a broker as I only seem to read bad things online about them, I have just spoke to castle finance direct and they said they want £79 but won't take it until my loan hits my account. Does anyone have experience with this company?

Can anyone suggest a loan company for someone with poor-ish credit that does not want upfront fees?

Thanks!
«1

Comments

  • Clive_Woody
    Clive_Woody Posts: 5,855 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Options
    gingerkay wrote: »
    Hi,

    I am currently looking to get a loan but I dont have particularly good credit and I am not a home-owner.

    I don't want to use a broker as I only seem to read bad things online about them, I have just spoke to castle finance direct and they said they want £79 but won't take it until my loan hits my account. Does anyone have experience with this company?

    Can anyone suggest a loan company for someone with poor-ish credit that does not want upfront fees?

    Thanks!

    Did you give them your card details? Is so then the money will already be gone.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
  • gingerkay
    gingerkay Posts: 4 Newbie
    Options
    No, as I didn't know anything about the company I haven't given them any card details
  • Clive_Woody
    Clive_Woody Posts: 5,855 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Options
    gingerkay wrote: »
    No, as I didn't know anything about the company I haven't given them any card details

    That's good as these brokers are bad news.

    More information needed. When you say "I dont have particularly good credit" - how bad are you talking? No credit history, missed/late payments, defaults, CCJs, IVA...?

    How much do you currently owe, how much do you want to borrow, how much do you earn?
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
  • Monkeyballs
    Monkeyballs Posts: 1,935 Forumite
    First Anniversary Combo Breaker
    Options
    Hi Gingerkay,

    I don't want to come over as being preachy but do you really need a loan? Is it for something urgent?

    If you're having debt problems then why not check out the Debt Free Wannabe forum for help and advice?

    If you really need cash urgently how about selling or pawning something? If you really need a loan do you have a local credit union?

    If you're in debt and have bad credit then the last thing you need is more debt...

    MB
  • gingerkay
    gingerkay Posts: 4 Newbie
    Options
    I dont have bad credit exactly I have just never borrowed before so I am stuggling to find somewhere that will lend to me now.

    I want to borrow £4000 and I earn £1300 a month after tax £1700 with overtime.

    I can afford he repayments as I earn fairly well, but I dont want to pay up front fees.

    And I currently dont owe anything.
  • fozmcfc
    fozmcfc Posts: 3,098 Forumite
    First Anniversary Combo Breaker PPI Party Pooper Debt-free and Proud!
    Options
    Your own bank, if they say no, then it's unlikely anywhere else would offer a loan, as they will know your finances better than anyone else.

    You might have to build up a credit history first, by taking out a credit building credit card with Vanquis, Capital One or a Barclaycard Initial.

    The bank could refuse definitely, if you are not on the electoral role and/or if you are constantly in an overdraft or have no money left at the end of the month.
  • Monkeyballs
    Monkeyballs Posts: 1,935 Forumite
    First Anniversary Combo Breaker
    Options
    Exactly as Fozmcfc says...

    I've never used them and you might want to check them out first and get feedback from others on this site but you could look at Zopa.com?

    I honestly don't know how they work, I've just heard their name bandied around so you'll need to do a bit of homework :)

    MB
  • gingerkay
    gingerkay Posts: 4 Newbie
    Options
    Thank you for your replies. I did try my bank but I was refused, i think it is unfair that no credit history can be just as bad as a bad credit history.

    zopa was the first place i tried asfter doing a little research, but I though I would get rejected and I was as it states that you must have a goood credit history to borrow from them.

    there must be a company out there that would lend to someone with no credit history?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    gingerkay wrote: »
    i think it is unfair that no credit history can be just as bad as a bad credit history.

    Not really. It's the same as brand new drivers. Just because they've never had an accident, doesn't mean they can drive well.

    It would be worth getting a credit card, using it responsibly for a while and then think about reapplying for a loan once you've established some history. But it will take a while.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Name Dropper First Post First Anniversary
    Options
    OP - are you in the electoral roll, that can be a. Massive barrier to getting credit if you aren't on it.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards