broker through halifax

shabana

hi all,

my sister went to apply for a loan today at halifax, but was due to her low credit score. the person who did her application refered her to a broker. as she was desperet he said yes.

wanted to ask few question;

1. do these brokers defenately give you loan
2. do they find loan from a bank
3. how do they work.

please someone answer

shabana

gosh i didnt type what i was thinking, i was meant to say she was refused from halifax

jonesMUFCforever

Halifax will have a panel of lenders who will look at her application but it will be at sub prime rates,
Does she actually need the loan?

shabana

yes she does, she has no other means of getting the money.

how certain is that the broker would agree the loan

iolanthe07

If you read the posts on here there are lots of stories about brokers who will find lenders who are only prepared to advance sums far less than you ask for and at usurious interest rates. Tell her on no account to pay an up-front fee to a broker. Decent brokers will not ask for one; they get their commission from the lender. Your sister may well be better off seeking advice on how to avoid debt by logging in to the 'debtfreewannabe' board here where a lot of friendly people will offer her good advice on how to live within her means.