Work 9-5, how can I get a loan?

Joonyer

I'm not telling them that, it's just what I'm telling people here as I don't want my business made public to a level that isn't necessary at this point in time.

They won't decline me, not with my credit rating.

Cheers again.

Kavanne

Joonyer wrote: »

They won't decline me, not with my credit rating.

Cheers again.

It's not about being declined. Be careful what you put down on the form as there are some things they CAN'T lend you money for, no matter what your credit rating!!

Joonyer

Ok cool - I used to work for a loan broker (gap year) but that was before the whole thing fell apart with the "credit crunch" and all the banking issues that the last year has seen, so I figured it best to ask here.

I'll just say consolidation - that's always a safe one and I can justify it with various things. Going with moneybackbank as they really seem to be offering the best rates for my situation at the moment.

Thanks again

Seekay_2

You can get a loan on-line and it's usually pretty hassle-free.

However... I would say that going through the process face-to-face is far more preferable. I arrange loans on a daily basis for my customers working for one of the big high street banks (not Halifax, I couldn't do on principle, just because of that 'Howard' bloke in their ads), and in my experience, people who have sorted their loans on-line don't always get the best deals as there is no advice - you're not dealing with someone that knows the ins and outs of the system and can save you some money. I'm not trying to patronise you there, but I know how to save people money because I know how our system works re: amount and term of the loan - the internet wont let you know these things.

Phoning up is even worse in my experience. Phone operatives generally just process what you ask them to and tell you how much it'll be. They'll probably try and mis-sell you LP as well.

Aaaaanyway, that's just my opinion from my experience, and I don't know how the systems at Halifax work I'm afraid.

Oh - and some banks will price-match if you're face-to-face and have a better APR to quote. Some advisors will try and price match even if you haven't got a quote from anywhere else...

Hope some of that helps.

Joonyer

In all honesty that was what I was thinking originally... all of it, but wasn't sure. I'm a little put off applying to MBB because they're asking for my bank details (as in, a "necessary" part of the quote) before even giving me my quote. Having worked in the sector I know that it's not necessary at all, unless you agree to go ahead after the quote. I'm not one to just give out my details to spotty teenagers on minimum wage!

As for the call centres just "processing" the apps, that's exactly what I did. Try to sell as much as possible to people that don't want/can't afford it. That's why I avoided sales as a careers path; I'm too moral and have a problem with it.

I'm not taking PPI out, I'm well versed in that as I used to have to try and drag people into it/purposely not tell them about it myself, and I'm confident that I won't need it, for reasons that I won't go into.

Any recommendations on branches? I think my only option is to get a half-day off some time soon...

Thanks for the honest advice - and thanks to everyone else for taking the time to help me.

/J

Seekay_2

No problem at all.

I have a moral problem with PPI selling myself, but then I will only advise that people have it if I think there is a genuine customer need for it. It's a horrible fact but these days people like me aren't really classed as advisors but 'sellers', and we're targeted on just about everything. With experience in the field yourself you probably already know that, and more and more people are aware these days and are very cagey and reluctant to take advice even though I'm genuinely helping them!

Anyway, I'd advise getting an appointment on a Saturday - unless you work 6 days a week? My branch doesn't open on a Saturday so I work late one night a week to accomodate people like yourself, of which there are many. Maybe Halifax do this too?

It's hard to get hold of an individual branch these days, and if you phone the main enquiries number to get through to your branch, they'll try and do the loan over the phone, which is what you want to avoid anyway. If you can pop in on your lunch and enquire about a Saturday appointment you may get some joy.

Only other advice I would give would be - when you are face-to-face for a loan, it's still a random game as to who you're dealing with. I'm sure they'll have a target to reach and a boss to answer to if they haven't given you the loan with PPI etc (I do believe that PPI is fantastic for the right person, but at the end of the day it's the banks' biggest earner by MILES). Be forthright and let them know that you've worked in the industry before and you know how it all works. Ask them how their systems work and if the system is telling them how much you can borrow per month and if it tells them if you're a low/high risk. That should get them on their toes and on your agenda!

And yeah, it's weird that anyone would want your account details for a quote, no idea what that's about. Ask for their bank details and see how they like it.

Joonyer

I do work 6 days a week but I'm not on until 11 on saturdays so I can get to a couple of banks before that. I'm very familiar with all of my halifax branch on a fairly personal level so them trying to upsell to me isn't a problem. Plus I tend to get quite indignant with pushy people so I'll quite happily tell them how I feel about PPI if necessary.

I have my branch's number so I'll ring them tomorrow lunch.

I know which lenders I want to avoid (welcome, swift, and a few others) and which I'm more inclined to consider, and I know what competetive rates are around so I'll basically take the approach of "I know your branch is struggling for business [which is true, I have inside knowledge on that one ) so if you can offer me what is your genuine best rate for my status, then I will give you my business, right now. If you mess me about, I'll take it elsewhere."

The hunter becomes the hunted, and their hard-sell tactics go out of the window

Will keep you updated anyway - nothing I can do now until tomorrow!

/J

Seekay_2

Haha!

Good stuff, and best of luck mate.