Finance credit checks?

SarahLou

I've had a guy round today for a quote for a conservatory (he's about the 8th we've had round!) His price has come out the best and they also offer finance options. He says its done by an external credit company (as expected) so he says the APR offered depends on what they come up with - which he says he'll phone tomorrow morning to go through things with me on the phone and then he can tell me what APR we'd be signed up to if we went ahead. He says the APR tends to be lower the better your credit rating (which I believe ours to be excellent so I'm hoping for a low rate!)

Just wondering what information I'll need to hand? Don't want to miss something obvious so would rather have everything to hand in time for the call tomorrow! I've never had to do one of these over the telephone before so I'm a bit stumped as to what he's going to actually ask! Help!

Rafter

SarahLou,

He will just need the standard stuff from a loan application form: Address, previous addresses if you have moved within 3 years, job, income, bank details, any existing loans - that kind of stuff.

Make sure you decline any loan insurance and if the APR is more than 10% have a look around and see if you can get a better deal if your credit rating is excellent.

Good luck

R.

SarahLou

Thanks Rafter.

Its such a long time ago that I took out any other finance .... and years since I took out a credit card that I'd forgotten completely what he'd be needing. Now you've said it, it all sounds pretty straight forward. Thanks! :T

CLAPTON

better to get a quote from your own bank... deals linked to things like windows/conservatories etc tend to be very high APR and often secured on your property.

Do not agree anything on the phone; ask for full details to be sent to you so you can study them at leisure.... post up the details here and get some advice.

Also be aware that they will do a credit check on you.