help wanted with loan

payneardo

Has anybody managed to get the 5.7% rate from Northern rock. I applied for a loan and got a yes answer but @ 7.9%. I phoned to ask why and was told I have a very good credit score and they couldn't see why they couldn't offer me the 5.7% rate, apart from they don't just do it on your credit score ?? They said I don't match their criteria but they are not able to tell me what that is in case of fraud ???


I know I may have to wait 6 months to apply elsewhere as the search is on my credit record and some companies only like 1 or 2 searches a month. But does anybody else recommend any different companies for a 25k loan with a good interest rate ?? and over at least 7 years..

Cheers

Dave

Robert_Sterling

Perhaps, having regards to your financial circumstances, £25,000 was a larger amount than they would wish to lend to you.

Rafter

NR only have to offer 67% of customers their typical rate. For the amount you were after and for the length of time (particularly if you didn't request payment protection) they would have hardly made any margin on the deal. So they probably programmed their computers to offer you a higher rate.

R

payneardo

thanks for al the advise, just wanted a straight answer from them on the phone but they went all secretative on me Mind u 7.9 is still a good rate but just wanted to know if they do offer the 6.7 rate to anybody as the few people I know who applied all got a higher rate ??

Cheers

Payneardo