We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Personal loan rejection
Hi all
i am also new to this site and could really do with some advise and a bit of a cheer up if possible. i currently have a personal loan with Santander with no problems. I have applied for additional borrowing today (£4500 on top of the £2500 remaining) and have been refused. they wouldn't elaborate as to why although the operator did ask if I had a student loan (which I don't).
I have checked my credit score on Credit Expert and it says it's 999 and also on my credit report it says I have £19098 as my amount of available credit. I have no CCJs, have never missed a payment etc etc. Ihave had no searches in the last 6 months other than experian. Can anyone shed any light please?
i am also new to this site and could really do with some advise and a bit of a cheer up if possible. i currently have a personal loan with Santander with no problems. I have applied for additional borrowing today (£4500 on top of the £2500 remaining) and have been refused. they wouldn't elaborate as to why although the operator did ask if I had a student loan (which I don't).
I have checked my credit score on Credit Expert and it says it's 999 and also on my credit report it says I have £19098 as my amount of available credit. I have no CCJs, have never missed a payment etc etc. Ihave had no searches in the last 6 months other than experian. Can anyone shed any light please?
0
Comments
-
If you have almost £20k of available credit along with £2.5k loan, you are considered to already have a potential debt of £22.5k.
To borrow on top of that would require a Salary of around £45k. Lenders generally don't like to lend over 50% of your Salary as unsecured debt.
If you can close down any unused Credit Cards, it will reduce your available credit making it easier to get a loan.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards