lloyds TSB Loan

mikemessa

Hi Guys

I applied for a £14'000 Loan with Lloyds TSB as I bank with them. Before applying, they said looking on the system I could borrow between £1000 to £20'000. When I applied it got declined, however I think this is due to a default I had on my account which was settled a long time ago. Anyway I applied for this loan in April 2010 and my default is now removed due to the 6 year rule. My bank manager called me to say the system can still offer me the loan. Because it is now 2 months before I applied and my experian file shows that I have already made 2 credit applications (1 - second current account and 2 - the loan). Shall I risk applying again at such a short period of time or should I wait????

My credit file shows me on the good category on Experian & Equifax.

How long shall I space out credit applications for it not to effect my score?

paulmcerlean

If they are now offering you the loan, it is unlikely they will search you again, and even if they do they will only see the searches from themselves which will not affect your ability to obtain the loan. Also, 2 credit applications in a 6 month period is seen as perfectly normal.

mikemessa

Thanks, I went back to Lloyds and I got the loan I wanted. Thanks for your advice.