Unsucured Loan For £4000

hivez

Hey All,

I am looking at getting an unsecured loan to both make my debts more managable and to also pay a deposit on a rental accomodation,

I have recently been given a payrise at work and am now earning £28k a year which I feel warrents me to take out a loan...

My first questions are if you think this is a good idea or not, who is a good company to go to? I have tried one company (oceanfinance) however they couldnt offer me anything as I dont have a home to secure it on,

I would also like to state my credit rating wont be brilliant but than again shouldnt be the worst..

Are their any ok companies out there offering any loans unsecured? I dont want to fall victim of a scam you see. Thanks

KingElvis

Your own bank would be best to help, have you tried them?

zppp

Welcome to MSE

I would suggest you post up the following details;

Outstanding debts, including those you want to refinance, their balances, limits and interest rates.
Confirm whether you credit file is clear i.e. no defaults, CCJs, IVAs, BR.
Are you on the electoral register at your address?
Amount of time living at current address, and if under 12 months how long at previous address?

Rafter

If you are finding it difficult to manage existing debts then unlikely anyone will lend you that much unsecured - they have no guarantee that you will use the loan to pay of existing debts so might see you as 'high risk'

How much existing debt have you got - just how bad is your credit history?

hivez

I didnt really want to have to list all my debts etc as I just want a loan, for various things... I have asked my bank along time ago and natwest dont really offer unsecxure loans like this, especiallyy given im using my overdraft...


Outstanding debts: around £2000
No CCJ`s etc
Not on the electoral role at this current address (still at perants)
Lived at my current rented accomodation 14 Months

But as I say... for me to go into fine detail would mean alot of paper work, is not possible for you guys to list off the companys who will offer loans to those who are considered high risk?

Thanks

Ryan

zppp

hivez wrote: »

I didnt really want to have to list all my debts etc as I just want a loan, for various things... I have asked my bank along time ago and natwest dont really offer unsecxure loans like this, especiallyy given im using my overdraft...

Natwest do offer unsecured loans, have you actually called them to ask if you're eligible?

hivez wrote: »

Outstanding debts: around £2000
No CCJ`s etc
Not on the electoral role at this current address (still at perants)
Lived at my current rented accomodation 14 Months

Not being on the electoral register may hinder the application. You may want to get put on the electoral register at your current address.

hivez wrote: »

But as I say... for me to go into fine detail would mean alot of paper work, is not possible for you guys to list off the companys who will offer loans to those who are considered high risk?

You asked whether it would be a good idea or not. We need this information to advise you of our opinions. It is always suggested to try your own bank first. Also, why do you consider yourself high risk?

Rafter

£2000 isn't very much debt given your salary - so that shouldn't be a problem.

You should get yourself on the electoral roll though - some lenders wont touch you without it. Otherwise apply using your parents address where you are registered if they don't mind that is?

you could try the 'smart' loan search on moneysupermarket.com and see if that gives you some ideas. Zopa might be worth a look too.

Whatever you do though don't pay a loan broker a £50 finders fee - if you can't find a loan, they are likely to be unable to.

Good luck

R.

hivez

I really dont want to have to go on the elecoral role at my current rented address as partly why I want this loan is to move to a new addy which I will want to do this,

I was unaware natwest offer this and am in the process of applying now given I have an online account too..

I will then apply to zoopla if they decline,

Thanks all!

zppp

hivez wrote: »

I really dont want to have to go on the elecoral role at my current rented address as partly why I want this loan is to move to a new addy which I will want to do this

It might be OK, NW ask for the last 3 years of addresses, so that shouldn't be too much of a problem, so long as they find your previous address.

hivez

Just did apply to natwest:

Thank you for applying for the following product: PERSONAL LOAN
Unfortunately your application has been declined


BCan you guys not just list companys who may be able to help? I would find this alot more usefull,


Thanks


Ryan

zppp

hivez wrote: »

Just did apply to natwest:

Thank you for applying for the following product: PERSONAL LOAN
Unfortunately your application has been declined


BCan you guys not just list companys who may be able to help? I would find this alot more usefull,


Thanks


Ryan

Don't be rash. What was the reason for the decline - this will give a clue as to whether it is something internal with Natwest or to do with your credit scoring.