getting a loan

donnacraig1984

Just want some advice about applying for a loan, i've tried tesco and zopa for a loan both declined, not trying my bank Lloyds tsb when i get figures online the apr is 24.4%. I was thinking of going to my mortgage provider Santander. Little bit about my situation, i have recently just got on the property ladder bought house last august and on the voters role, been working with same company for 7years on £23000 per year. My debts are CC with £550 sitting on it another paid off since November I also have a small loan with Credit union would pay this off. Would i be wasting my time at the moment.

Thanks For advice
Craig

bbfc

Be careful applying for credit in such a short period of time, as lenders see this as being desperate.

Do you really need a loan? £550 on a CC is not a lot, and how much is the loan with Credit Union for?

donnacraig1984

Don't NEED more like want. I'am after a new car. Loan with CU is only for 1500. Could pay the cc and loan of just now, if I wanted. But I like keeping money in the bank as an emergancy.
Craig

FireWyrm

Nope...dnt do it. You've been declined twice, a third application will kick you into touch for the next year. I can almost guarantee you would be declined again.

It's time for you to consider other options, for instance, selling possessions, buying a lower value car or borrowing from family. You have zero chance of securing a loan at anything like a sensible APR, so this could be a trigger warning for a snowballing financial situation. Examine your spending habbits and consider whether you can make cuts that would yield the necessary money instead of borrowing it.

geoffky

Look back In a few months and thank them when you are a bit short of money...try and not have too much debt and your life will be a lot less stressful....debt causes misery..good luck...credit unions are the best place if you need a loan..

Tixy

How much were you hoping to borrow/applying for?

Do you have any issues on your credit file?

Certainly if you've been declined by 2 lenders already and your own bank are only offering at a high APR it doesn't seem likely you'll be accepted by any other mainstream lender.