Santander Loan Declined - Appealing

roonaldo

Go somewhere else, at the end of the day they are not obliged to give you a loan just because you requested one.

Apples2

With all the bad publicity surrounding santander I'm amazed anyone would go near them.

sharpy2010

I use Santander, they've always been alright to me.

roonaldo

sharpy2010 wrote: »

I use Santander, they've always been alright to me.

Me too, never had a problem.

ReadingTim

What did you want the money for? Over what period were you looking to borrow? What proportion of your monthly disposable income would the payments have represented?

You're asking for a loan representing 20% of your salary (ignoring bonuses, as they're only 'expected', rather than guaranteed). And if you spend up to your limit on your existing cards, and went into the overdraft, that figure goes up to 27%, which some lenders may think twice at.

Equally, while you have a good salary, if you find yourself spending nearly all of it every month, how will you repay said loan? Your credit score shows you're meeting your existing obligations, but you don't indicate how well you're able to meet this new one.

Finally, what was the loan for? I'm not sugegsting you're daft enough to say that it's for a 'dead cert on the 3.15 at Newmarket', but in the era of 'responsible lending', institutions with whom you have no existing financial relationship might not be queuing up to throw money at you - they have no obligation to lend after all!

xdm941

Just thought i'd let people know my loan appeal with Santander was successful!!

Took about three weeks but got there in the end.

So there is light at the end of the tunnel when initially declined for a loan!

k9387

Strange, my situation was very similar in the amount requested and salary but my credit history was rubbish up until about a year ago (late payments, constantly maxed out credit and one AP - a fun, but not recommended, student life) - but I was sucessful a few months ago no questions asked.

Good news on the eventual success though!

smi32d75

Im highlighting that I have just been accepted for a £9000 loan, but annoyed that the advertised rate was 6.3% and I have been offered a slightly higher rate of 7.4% !

Does anyone ever get the advertised rate ? What is the point of giving you a slightly higher rate ? I am sceptical !

27col

smi32d75 wrote: »

Im highlighting that I have just been accepted for a £9000 loan, but annoyed that the advertised rate was 6.3% and I have been offered a slightly higher rate of 7.4% !

Does anyone ever get the advertised rate ? What is the point of giving you a slightly higher rate ? I am sceptical !

The point of giving you a slightly higher rate is that they make more in interest from you. Simple eh!

koloko

deleted deleted deleted