what did i do wrong

lapat

i have a problem applied for a loan today for a new car as i didnt want to take out the dealers loan.

i did it through lloyds tsb at an advertised internet application of 6.4% and i did it alongside speaking to the advisor on the phone.

i completed all the details after i was told yes you will get the 6.4% and then it was declined at the fianl hurdle

now i have never ever been turned down for credit in the past for anything and when i got the advisor to look into it she said she couldnt see anything wrong and that my credit rating was very good.

i have had problems with my bank on cancelling dd's and other things and i was quite litterally p****d off when i was declined.

so i did a credit search with equifax and my credit rating was in the 900's with as you know 1000 being lend you anything score.

so upon further investigation i have transferred my mortgage to another lender and it seems that they have carried out three different searches in the last 10 days.

any advice on this one as my rating is very good but i think the searches may have caused the problem.

now i have the dilema that do i apply to another bank for the monies or do i settle for the car dealers finance as im worried that if i do another application and that is turned down i wont get the loan of the car dealer either

any advice would be greatley appreciated.

sorry if ive babbled

Xbigman

I'd go into your local Lloyds branch for a face to face with an account manager. Ask what your Lloyds credit rating is and point out you are not taking out three loans but were just shopping around.

If that doesn't work then you would be best advised to wait 6 months for those searches to drop off your credit records and try again.
Regards



X

lapat

thanks for the advice
the three credit searches were for the mortgage/life insurance & buildings and contents insurance the latter two i have found out were non footprint searches.

i have been to the bank today and as usual they could offer no explanation to why even after thrusting the equifax report under there nose

so im now in the process at looking to change banks after 20 years with this bank its like losing an arm with all the changes im going to have to do.

however the good news is that after a couple of telephone calls to the car dealer saying that i may have to postpone or even cancel the car he has suddenley come up with a near matching deal to the lloyds tsb 6.4% its within £2 off the deal from the bank
now i think this may be a tip for some of you out there if you can hold your bottle with the dealer and i know many of your mse'rs out there are more than willing to do that