Can a bank overide a loan decision and reconsider...

michael1983l

moneysucks wrote: »

I spoke to a guy in the bank the other day, he did mention that rent would have to be considered as it says on my details that I currently rent, he then said if I was to change my address temporally to my parents and change my details to living with parents, rent would not have to be considered.
I bank with Natwest.
I have no children etc, my wages goes on food, credit card payments, and paying off an overdraft I have with HSBC.

If the bank manager found out about what the person said to you he would get sacked on the spot. What he is refering you to do is commit fraud by giving false information.

moneysucks

That's what I thought until i looked it up, It's not fraud coz it's your family.

Apples2

moneysucks wrote: »

I have a loan with another company wich debits from my account (£150) this is the only thing that does (as my partner pays rent etc) so i'm left with approx £700 of my wages. .

With hardly any outgoings and £700 disposable income... why are you using your overdraft???

If you owe loans, Credit Cards and Overdrafts... You do not have £700 left!!!

michael1983l

moneysucks wrote: »

That's what I thought until i looked it up, It's not fraud coz it's your family.

It is fraud because A you don't live at your parents therfore you are giving false information in order to deceive the decision out of your bank. Also as you are still liable for your rent during this period you will be witholding relevant information to the lender.

chambta

michael1983l wrote: »

If the bank manager found out about what the person said to you he would get sacked on the spot. What he is refering you to do is commit fraud by giving false information.

They wouldn't get sacked on the spot all and it's preposterous to suggest otherwise but clearly he's encouraging something that he absolutely should not.

In any case you would fail affordability and you say it's already failed credit scoring. You have no chance of getting the loan at the moment. I would suggest from the little you give away that it wouldn't be appropriate for you anyway. If you genuinely have £700 spare how many months 'worth' of debt do you actually have?

iolanthe07

moneysucks wrote: »

That's what I thought until i looked it up, It's not fraud coz it's your family.

Of course it is fraud! You are misrepresenting your circumstances for pecuniary advantage.