CreditExpert / Loan advice please?

montasura

OK, so I got knocked back for a loan application for £9000 today.

Tonight I have renewed my credit expert / experian membership and my credit score is still showing as 999. However when I use their loan quote facility which is supposed to be linked to my credit score and show lenders likely to loan me money, the only lender showing on the list is The Co-Operative Bank.

Firstly does anyone have any knowledge of them, are they more lenient than other lenders?? Despite my score they are still the only lenders available when I drop the sum to £5000

Also, moneysupermarket have a smart search which uses a soft search on Equifax. According to it they think I have a 9/10 chance of successfully borrowing from Zopa, Sainsbury's, or Hitachi (I think).

How accurate are these soft search quotes???
If I'm going to have a second attempt at an application who should I try???

DCFC79

As already mentioned on here your 999 means naff all/diddly squat etc. What do you mean by " lenient than other lenders" ? in what way do you want them to be lenient ?

Tixy

No the co-op are not particularly more 'lenient' than other lenders when offering loans.

Most people on here don't rate the experian loan quote facility.

Whilst your score may be 999 there is a lot of other factors that influence a potential lenders decision, including a lot of data that experian have no idea of.

Who have you applied to todaythat you were declined by? who do you bank with?
What other existing debts do you have? what other unused credit? What is your salary?

Apples2

If you have used a "loan quote facility" you should get ready for a barrage of calls all guaranteeing you a great loan at a fantastic rate...guaranteed, with a double helping of guaranteed. If you fall for it, you will be back here asking how to get your money back from them.

Keep your guard up, NOBODY is going to contact you with a genuine offer.

notts_phil

When will people stop falling for these self generated numbers

people are easily fooled.

montasura

Apples2 wrote: »

If you have used a "loan quote facility" you should get ready for a barrage of calls all guaranteeing you a great loan at a fantastic rate...guaranteed, with a double helping of guaranteed. If you fall for it, you will be back here asking how to get your money back from them.

Keep your guard up, NOBODY is going to contact you with a genuine offer.

Cheers, thankfully I never do business over the phone unless I pre-empt it. But thanks for the heads up :beer:

Tixy wrote: »

No the co-op are not particularly more 'lenient' than other lenders when offering loans.

Most people on here don't rate the experian loan quote facility.

Whilst your score may be 999 there is a lot of other factors that influence a potential lenders decision, including a lot of data that experian have no idea of.

Who have you applied to todaythat you were declined by? who do you bank with?
What other existing debts do you have? what other unused credit? What is your salary?

I was declined by M&S. Currently bank with Santander. As for debts, I have a credit card balance of £800, overdraft, mortgage payment of £550. No other debt, although the mortgage is still joint with my ex who has bad debt but can't disassociate her until I get this money!!! Currently earning £22.5k

Ideally I need £8000, but would consider lending £4000 on a personal loan as I may be able to get the other £4k elsewhere.....not ideal though.

notts_phil

Apples2 wrote: »

If you have used a "loan quote facility" you should get ready for a barrage of calls all guaranteeing you a great loan at a fantastic rate...guaranteed, with a double helping of guaranteed. If you fall for it, you will be back here asking how to get your money back from them.

Keep your guard up, NOBODY is going to contact you with a genuine offer.

Spot on. when will people learn.

blacksta

My credit score is 9999999999999.99. I love it