Personal Loans and Savings

almost_there

ok heres my take on it.

You have to be commended on saving 10k

That will gain about 3% per annum interest, and you want a loan which will cost you if you get an amazing rate(which only 10% of the population get) approx 7% at the very least, maybe even 9-12%


I know what I would be doing!


Remember this site is titled moneysaving expert.com

CLAPTON

Lancslass1982 wrote: »

No offence to anyone, but my actual question was whether applying to the bank where I hold savings would make any difference to a loan application. It wasn't a request for opinions on whether I should replace my car or how I should pay for the replacement. It also wasn't a request for help on anything credit card related.

Eta: I have been approved "in principle" on a loan with Derbyshire. I am waiting on the Santander application.

no offence taken and I know you haven't asked the following so I guess you needn't read it

1. there is a sort of rule of thumb at the moment that say lenders don't like a person to have a debt to income ratio of more than 50%... ok you have refuse to tell us what your CC debts are but they will show on your credit reports


2. there is a general understanding that making several credit applications in a short period make one look a bit desperate and so leads to refusal

however there are exceptions to all rules so you will have to wait and see.

cos_2

CLAPTON wrote: »

1. there is a sort of rule of thumb at the moment that say lenders don't like a person to have a debt to income ratio of more than 50%...

Up until Sept last year I was running credit card limits (actual amounts about 50% of limits) and loans of around 175% of income. Personally, I think your figures are much more sensible.

My debts have reduced massively since then