Why wont banks give me a loan? - good credit history

Chris-UK

Hiya...

I have been trying to get a loan for the past month trying all the compare sites like moneysupermarket, uswitch ect

and i all seem to get is declined.

I do have 2 credit cards and in my overdraft with my bank but the reason why wanting the loan so i can pay all of it off and just have the payment a month for 5/6 years because im trying move out with my girlfriend and not in a good place at the moment.

People have 10's thousands of pounds loans and i want £5000 pound loan.

tryed alot of the sites like AA, halifax, natwest, HSBC, nationwide, aliance and leicster. ect

any ideas on what banks would give me a loan?

thanks for advice.

-chris

balmk

Hi,

It may be that if you have made multiple applications in a short period of time, your credit worthiness is decreasing; lenders can see multiple applications as a sign of desperation.

I would suggest that you check your credit files (experian, callcredit, equifax) just to check that there is nothing untoward on there. Equifax and Experian both offer free trials (plus you can get cashback for trying the service via, for example, topcashback.co.uk). Alternatively, you can pay for a triple agency report from somewhere like checkmyfile.com.

Hope that helps

dzug1

Sorry can't help with a positive answer, but look at it from the bank's point of view. You are effectively trying to double your credit while (apparently anyway) struggling to service that which you already have.

iolanthe07

You have made too many applications in too short a space of time, probably. You need to leave it for at least six months, and then try again. Approach your own bank first. Having said that, credit is tight at the moment, but do avoid the dodgy companies you read about on here.

Chris-UK

thanks for advice..i have been on experian and seen my report..all good.

i was going to try "first direct"

do you think if i keep trying will just hurt my credit even more?

btw can't really leave it because im planning to more out and with what money?

i guess i got myself into this hole....

_Andy_

If HSBC and all the others have declined you, there is absolutely no point in trying FD.

Chris-UK

there must be away...

littleredhen

might be some hints here
http://www.itv.com/News/tonight/episodes/CreditSecretsRevealed/default.html

Chris-UK

thanks but no thanks for the info..not what i wanted to hear but i guess it makes sence

wait abit and try then..

Chris-UK

one more thing

i visited this site and did a quote and my phone has been jammed with txts and missed calls

allaboutloans .co . uk

they rang back when i was there and offered telscopic rates or something...

was tempted to say yes but feels like i've been bullyed by all these companys....

anyone else had this or any advice?

Mightyowl

Never heard of them, but know doubt they are the usual cowboys asking for money upfront then making you wait only to be declined again.

I know it's crap mate, but try to hold out for 6 months then try again.