Santander Loan Declined - Appealing

xdm941

Hello all,

About an hour ago I recieved a letter from Santander declining my loan application for £7800. I was very surprised by this and to some degree a little angry. I monitor all the credit agencies and I have no missed payments on file, no defaults and no CCJ's. I have outstanding credit totalling £161 with a history of perfect payments. Basically all is green on all three reports, no adverse info whatsoever.

I am currently a tenant and have lived at my address for seven years. I have a annual salary of £38850 + £4000 in expected bonuses paid in April.

Does anyone know why Santander would decline? I have just posted an appeal letter a few minutes ago but I was wondering if anyone had any experience of loan appeals??

Anyway...

Thanks for reading!

CH27

Do you have lots of credit available to you on credit cards?

xdm941

I have approx £2300 of available credit on cards and a £500 overdraft with First Direct.

fozmcfc

Are you on the electoral role? or made more than 3 credit applications in the past 6 months.

Clive_Woody

Are you financially linked with somebody? If so what's their credit file like?

xdm941

Yes I am on the electarol roll since I was eligable. No other credit application in the last six months.

CH27

I assume you bank with First Direct? Have you applied to them for a loan?

xdm941

Not financially linked with anybody. Yes I do bank with FD but even so I still cannot quite figure out why Santander declined???

I'm not sure how much more credit-worthy I can be without having a mortgage repayment???

CH27

It could be you don't have enough of a credit record for them to judge your repayment history.

immoral_angeluk

CH27 wrote: »

It could be you don't have enough of a credit record for them to judge your repayment history.

Or the planets could be in the wrong alignment

Cash_Flow

xdm941 wrote: »

Hello all,

About an hour ago I recieved a letter from Santander declining my loan application for £7800. I was very surprised by this and to some degree a little angry. I monitor all the credit agencies and I have no missed payments on file, no defaults and no CCJ's. I have outstanding credit totalling £161 with a history of perfect payments. Basically all is green on all three reports, no adverse info whatsoever.

I am currently a tenant and have lived at my address for seven years. I have a annual salary of £38850 + £4000 in expected bonuses paid in April.

Does anyone know why Santander would decline? I have just posted an appeal letter a few minutes ago but I was wondering if anyone had any experience of loan appeals??

Anyway...

Thanks for reading!

Why did you choose Santander for a loan?

I would have tried to Tesco loans they have money to burn and Santander don't have a pot to !!!! in.