First Direct

ALP2010

Basically they're very anal aren't they?

Would be interested in any stories from people who've been turned down by them for dubious reasons?

Also, probably a very naive question, but are they completely goverened by what the computer tells them or is it down to the individual judgment/discretion of their underwriting people?

Ie, can you work out the system and then use that knowledge to beat it by jumping over all the hurdles they throw at you or can an individual just decide they don't want to take you?

thanks guys

opinions4u

ALP2010 wrote: »

Basically they're very anal aren't they?

They tend to offer market leading rates and only offer mortgages to the highest calibre of applicant.

Would be interested in any stories from people who've been turned down by them for dubious reasons?

Dubious? They can lend to whoever they choose to lend to. There is no obligation on them to lend to anybody.

Also, probably a very naive question, but are they completely goverened by what the computer tells them or is it down to the individual judgment/discretion of their underwriting people?

Predominantly a credit scoring system with manual intervention still an option.

Ie, can you work out the system and then use that knowledge to beat it by jumping over all the hurdles they throw at you or can an individual just decide they don't want to take you?

You mean you want to lie on an application in order to obtain money?

ALP2010

Thanks for the feedback. I know there's obviously no obligation on anyone to lend money but I've come accross quite a lot of negative comment and angry people about FD on various forums and their behaviour seems to suggest they are 'derisking' their portfolio by getting rid of existing customers for some very trivial reasons and declining credit citing reasons that really test logic (even making allowances for 'the system')

In terms of your last point!!!!!!!!! No of course not! But if they say we've declined for reason xyz, and there is something you can do about it (eg settle an account, close an account, get your record updated) you can try again.

That's what I'm doing, just not sure if they're stringing me along and have already made their minds up.

ps the mortgage is agreed in principle this is just for the current account. Ie they've approved giving me money but not receiving it ironically!

_Andy_

So they haven't turned you down for 'dubious' reasons then?

ALP2010

Yes they have, they turned me down for a current account (with no o/d) because someone I am financially connected to has a small satisfied default from 2005. My record is otherwise impeccable, I have no debt, but a good history of credit accounts that are paid off like clockwork, my credit score is as good as it gets, I earn about £80k, am 30 years old and have just under £100k in savings.

sconieroany

ALP2010 wrote: »

I earn about £80k, am 30 years old and have just under £100k in savings.

Hell never mind the mortgage........if your a girl I'll date you, but if your a bloke, (pitty) I'm your new best mate