fair credit rating loans

leaseylu

Am I likely to get an unsecured loan for £5,000 as I have a fair credit rating

CKhalvashi

The problem with a credit rating is that it doesn’t answer any questions that a lender would.

1) Do you have a job?
2) What do you have coming in?
3) How long has this been the case and how likely are you to keep it (commission etc.)
4) Are you on the electoral roll at the correct address?
5) Have you gone over OD if with a bank that you are with

etc etc etc

CK

leaseylu

But they use credit reports in order to make decision to give you a loan, so are you saying I won't get one? I do work and have been in my company for the last 6 years and looks like I am secure there too.
and no I haven't overdrawn in my accounts.

leaseylu

oh and I have been at my address for the last 12 years

meer53

It's income v expenditure + whatever other credit you have that will affect your ability to get a loan. Then they'll look at all the other stuff. The only way you'll get an answer is to apply for one. No one here can tell you.

CKhalvashi

meer53 wrote: »

It's income v expenditure + whatever other credit you have that will affect your ability to get a loan. Then they'll look at all the other stuff. The only way you'll get an answer is to apply for one. No one here can tell you.

Thanks Meer, a bit more ‘To the point’ way of explaining what I was!