Best Loan

moatmeister

Yes. Didnt really get a straight answer then either!

Good news - Building Society have agreed to remove incorrectly applied late payment marker from credit file.

KingElvis

If your own bank have declined your tempting offer then you're basically down to sharks, guttersnipes and life ending interest rates.

I would get your son off his butt and into a job, I funded 4 years of uni education back in the 1980s by working hard.

Tixy

moatmeister wrote: »

Can you define the "acceptable level of credit" please?

moatmeister wrote: »

Surely asking for an explaination of an "acceptable level of credit" is a fairly straightforward question which would help many people ?

DCFC79 wrote: »

You have asked that question before though

moatmeister wrote: »

Yes. Didnt really get a straight answer then either!

Nobody can give a definition no - but people can give an explanation, which I believe has been given to you before.

As has been said before in the current financial climate potential lenders seem relunctant to approve unsecured loans that take a person's unsecured credit above 50% of their gross annual income.

Thats not an exact definitive rule, its a guideline. Some people indeed do find they can borrow more than this, particularly high earners with very good credit history for example.

But it is easier to say when a person is already significantly over what lenders would consider an acceptable level, e.g. earning £12k and with a loan of £10k. Hence chalkie's reply on this thread.

poppasmurf_bewdley

LynV wrote: »

Hi I am wondering what the best way is to raise £3,000. Thats all I need to settle a couple of pressing matters I have. So who can do the best loan with this small amount I need.

LynV wrote: »

Have not tried anyone else. Just wanted best idea who to go to for the low amount.

Why are you trying to convince yourself that you are looking for a small amount of money? Three thousand pounds is a substantial amount, as is being proved by the difficulty you are having in getting it.

Peelerfart

I agree with poppasmurf, if £3K is a small amount I'm in the wrong job.

RobertoMoir

poppasmurf_bewdley wrote: »

Why are you trying to convince yourself that you are looking for a small amount of money? Three thousand pounds is a substantial amount, as is being proved by the difficulty you are having in getting it.

It's 1/4 of the salary figure I've seen mentioned on this thread for a start. I'd imagine that would mean lenders would consider it substantial in its own right (though not prohibitively so) even if the OP had no other debt.

moatmeister

Good clear answer Tixy, thank you.