Can't get a loan - advice needed

waveydavy

Just a quick update if anyone is interested...

Have just come off the phone to black horse, after being referred by freedom finance.

Have been told my application has been approved - just need to provide a copy of my last 2 payslips and my passport.

APR is 15.9% - no fees or charges.

Ok so it's not an amazing APR, but given my circumstances and the fact that Lloyds TSB could only offer 22.9% I am quite pleased.

Fingers crossed now...

Thanks for all your replies.

Dave

Dabooka

If you have a large disposoabvle income, just save it up, it'll be done in no time at all.

waveydavy

Well...guess what...
I phoned black horse on tuesday to check they received my documents ok. They told me they received them on saturday, that my loan was approved and being processed, and that unless I had filled in the form incorrectly the money would be in my account by the end of thursday.

The money didnt go in so I phoned them and was told that my loan was rejected by the underwriter and that they had tried to call me a few times to tell me (no missed calls on my phone hmmm).

Hey ho...spoke to the car dealer and he said not to worry he does finance and to still go and see him.

So I guess there is a bit of hope. Obviously I will read any T&Cs and check the actual APR % (not the flat APR).

Am I more likely to be accepted for a loan secured on the car? Any watch outs or advice would be greatly appreciated.

Thanks

Dave

mrRemz

beargirl wrote: »

I have a similar problem, again due to one default on my credit report. I was unable to get a loan from Natwest although they said from looking at my details I would be able to afford the payments etc.
I ended up going to my local credit union who base the loan on the affordability rather than your credit report and the interest was only a couple more percent than the banks. Additionally, there are no extra fees if you want to pay it off early, increase payments etc which is quite useful!

Why dont you try out with Consolidation Debt Loan. It's could ease your payment and hassle free with reduction in interest. Much thing you'll need to know first. try to figure it's out, might be helpfull.