HSBC Loan question

Tremour-88

No longer need this thread, thanks for all replies

maginot

Your best bet is with your own bank HSBC and so it may be a good idea to go in and speak to them.
If you apply online you may be rejected automatically due to the default and your low income.
How come your income is so low?
What are your other bills?
Would you be able to afford repayments? Repair bills, insurance, petrol?

I spend £2,000 a year just on running a car, although do have to commute 25 miles a day!

If you can afford repayments can you start saving money to pay for the car outright, with your low income you don't have much leeway to cover any unexpected bill.

Tremour-88

No longer needed thanks for replies

CLAPTON

have you costed the car insurance, car tax, MOT, repairs and petrol?
on 6k per year it all seems unlikely
if you can afford that lot then presumably you can save up for the car itself

Tremour-88

I have a car atm and am managing fine, but its becoming a problem due to needing £800's worth of repairs so it would be cheaper to get rid of it.

I am saving for a car but I would like a 1k loan to buy it sooner before mine fails and im left with no transport.

scousemanblue

Let me tell you now, they will give you the third degree whe taking out this loan.

I have banked with HSBC for over 20 yRs and thought I would apply for a loan through my bank. Big mistake...

No problems with credit I might add.

Won't ever use them again for that and will be replacing my account elsewhere.

iolanthe07

I think you may find that £1000 is too low a loan amount to meet their criteria. They may suggest an overdraft - but as others have said, you can only ask.