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loan accepted
Hi Iive just gone through a joint application for a 7500 loan with tesco finance with a rate of 8.6 and received a approved loan letter today but they will only lend it at 11.17 due to there inital credit scoring risk accessment, could this be mainly due to not adding payment protection to the original loan! and if i dont go through with it does that affect my credit score and would this then mean the same sort of increase of interest when applying for a similar loan with someone else! regards Baz
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could this be mainly due to not adding payment protection to the original loan
No, they aren't allowed to use insurance as part of their scoring risk assessmentif i dont go through with it does that affect my credit score
This application will show up as a search on your credit file. This may have a slight impact, but it is impossible to say how much! 1 or 2 in the last few weeks won't matter that much (as people shop around for best deals), but 6,7,8,9 etc will0
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