loan

madeinwales1

i entered an application for a loan but accidentaly entered the wrong information.can i retrieve the form to correct this.or cancel the application.

Tixy

You are going to have to give a few more details for anyone to be able to help - what company did you apply to? how did you apply? online? when did you apply?
If it was online then your probably cannot change the form but you should be able to contact the potential lender to ask them to cancel your application.

madeinwales1

applied to santander last night at 11pm online.contacted them at 9am this morning but was told application was already declined.how will this affect application for future loan.i have no reason to believe that i had a bad credit rating before this .

Tixy

What details did you put in that were wrong? depending on that it could potentially affect your credit report and you ability to get credit in future.

madeinwales1

i applied for £20000 to purchase a houseboat .i would be living on the boat so the loan would be my rent i would also be exempt from council tax water rates etc .i entered my outgoings including my current rent council tax etc making my outgoings appear considerably more than reality

Apples2

You put the correct information in the application.

You cannot put down future commitments when applying. What you DID was right, what you are trying to do is wrong.

madeinwales1

can i borrow the money from a reputable company that will take my future situation into account.

Tixy

You might well not have been declined because of your outgoings. It may be down to the amount of money you want to borrow.
£20k is a large unsecured loan.

How much do you earn and what other debts do you have?

Apples2

Unfortunately not, you have to demonstrate your ability to meet the repayments.

We see lots of posts where people are requesting loans as they have a Job offer. All manner of things can change.

Your only option is to try a face to face meeting in a bank and hope they are receptive.

As Tixy alludes to, for such a large loan you would need to be earning well in excess of £40k with no debts and a clean but full history.

madeinwales1

i have no depts but dont earn 40k pa.looks like another dream lost.will try the bank but wont get my hopes up . will just have to save the cash.thank you both for your help and advice.

Tixy

It would be worth going into the bank and talking to them about it and if they can help at all. Eg if they would be prepared to give you a loan secured on the houseboat then you wouldn't need to be earning as much as for an unsecured loan, though they would probably expect you to have a decent deposit.
(I don't know how likely it is you would get a loan secured on a houseboat as I've never tried buying one!)