Sainsburys loan say no Lloyds say yes -why?

papaver

Thank You

This is now not applicable.

brians_daughter

Lending criteria is different for each lender. You say you have 2 missed payment in 12 months... this may be problematic when trying to achieve a great loan rate. It also depends on what credit you currently have/have had and how you have managed it ie not paying off cc balances in full, or at least a good % of it rather than making the minimum payments ect

If you subscribe to credit expert there is a facility on there called 'lower my bills' it checks your info on your report with lenders and gives you a list of lenders that will 'possibly; lend to you. I have used this facility twice now and got accepted by the lenders they came up with- all at good if not competative rates

As you have had 2 searches on your report already you may not wish to apply to anyone else, but the 'lower my bills' facility is a useful tool to use - it doesnt count as a 'real search' on your report either.

papaver

Thanks for the reply.

My credit score is 999 (not sure where I got the 97 from):p

Lloyds are one of the lenders on the lower my bills section (but they have the highest interest rate) over the others.

Thanks

brians_daughter

I wouldnt take too much notice of what your score says - it means nothing. Every lender has a different scoring system so whilst Lloyds may snatch your hands off Sainsburys say no! As long as you keep your accounts up to date, and dont have too many searches short period of time, are on electoral roll and dont habe too much 'available credit' you can get a decent APR!