Advice needed for loan application

knighty_2

hi
i would definatly give northern rock a wide berth.
i have just applied for a £12000 loan over 10 years, i have a very good credit rating as i have donwloaded my score of zopa which was 514 and my equifax score came out good, have never defaulted on any loans etc.
applied for the loan which was accepted but at a rate of 10.9%!!!
This is the second time this has happened to me with nortern rock and i think this practice is very shoddy, i would love to know how many people actually get the advertised 5.9%.
knighty

MarkyMarkD

At least two thirds, because that is what they are required to give to comply with regulations.

CLAPTON

if you're living at home and presumably have low outgoings, why can't you save 4,500 and avoid getting a loan and hence avoid paying interest?

Connected_2

CLAPTON wrote:

if you're living at home and presumably have low outgoings, why can't you save 4,500 and avoid getting a loan and hence avoid paying interest?

Because it would probably take me a good few years to save that up, especially given my salary!

Astaroth

Well, it would take you less time to save it up than to pay off the debt