Where to apply for a loan?

flutterbyuk25

Hey all

I am looking at getting a loan to pay off my CCs and for a new (used) car purchase. Looking to borrow around £12K

I've never had a loan before so not really sure where I should apply to. Should I apply to a lender/bank I'm already with? I have the following:

- My main bank account is with Halifax, my wages get paid in here and I also have a CC with them with a small balance on ~£300 on 0%.

- My 2nd bank account is with HSBC, this is for my monthly spending money so I transfer over ~£330 per month.

- I have CC with Barclaycard with ~£8K on it on a LOB used for BT only, a Tesco CC which I spend frequently on but always pay back monthly in full. I also have an M&S CC with a balance of £2.5K but I have this money stoozed away to pay off next year when the 0% ends.

The loan would pay off the Barclaycard, Halifax and the car at £4K.

Any suggestions about where would be best to apply. I have a good credit rating, no defaults, late payments etc.

Thanks in advance

Apples2

Tot up the credit limits (not balances) on all those Credit Cards you already have, add that total to £12k (the loan you want), if the grand total comes to more than 50% of your Salary, you will struggle to obtain a loan of such an amount.

They look at your exposure to debt (you could still run the cards up to max).

Your own bank know you better than any other lender as they can see, at a glance, the way you handle/manage your money on a daily basis

flutterbyuk25

Update - I applied through my bank (Halifax) this morning and money is in my account already :j

No idea what Saver011 is on about!

x