Santander Loan Declined - Appealing

19lottie82

I was looking for a 6k car loan last year and applied with santander. I was refused even though i am a home owner, have a permenant job and a good credit history.

I asked one of my friends, who works in finance, why this might be and he said many banks are reluctant to give loans to people who have no history with them what so ever (I have none with Santander). I then applied for a loan with Tesco Finance, who i previously had a credit card with (in good standing), and I was accepted straight away.

ses6jwg

Based on experience, you are unlikely to get accepted for a UPL (unless your credit score is absolutely impeccable) with Santander unless you have an existing credit relationship such as a mortgage, bank account or credit card with them.

gazsparky

xdm941 wrote: »

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!

hi can i ask what you put in the letter when you appealed? i have just been declined and want to appeal against it, i think i know what the problem might have been. i have access to my expirean report and at the time of applying for the loan i had showing on my report that i had outstanding debt when it was actually paid off. its all been sorted now and shows as ' settled ' so wanted to appeal. thanks