Advice needed - loan rejection

Spaceman9120 · 18 March 2009 at 8:21AM

Hello I am wondering if anyone can offer some advice.

I have recently applied for a £10000 loan for home improvements (instead of moving) and despite having no debts - except mortgage and earnign £45k a year I have been rejected by 2 companies. I am have looked at my experian report and the only thing I can see wrong is some recent searches as I was going to move with work so I investigated new mortgages etc now I am staying put.

I have tried using the smartsearch facility on this site but it keeps coming out with an excellent score. Obviously this is wrong as why else would I be turned down for credit?

Pse can anyone shed some light

Many thanks

CLAPTON · 18 March 2009 at 9:27AM

have you tried your mortgage company?

Robert_Sterling_3 · 18 March 2009 at 10:21AM

Although you want the £10,000 for home improvements there may be other prospective borrowers who would say that was why they wanted the money but really wanted it for a holiday.

gomer · 18 March 2009 at 11:31AM

It may be worth checking you credit file with more than just Experian as different agencies sometimes hold different information on your file, so there may be something that isn't showing up on Experian..