Typical loan rate

applesrace

Hey all,

I'm after a quick bit of loan advice if possible. I applied for a NR loan about 4 months ago with a typical APR of 5.7% at the time. I asked for £15000 to consolidate existing debt.

I was offered 9.9%. I understand typical APR only has to be given to 70% of people. I turned the loan down and would now like to try and get a better rate with another company. How can I find out if I'm likely to get the typical rate without another search going on my credit report ?

I have already searched with one of the comparison sites that links to your experian score before listing your options. My credit rating is good and I had lots of loans returned. Worryingly though NR was one of the companies.

Thanks a lot

Apple

nomoneytoday

The lender needs to do a credit check in order to see how you score, and for the actuaries to calculate the interest rate.

MABLE

I was told by a manager of LLoyds that the rate is always higher if it is for a consolidation of debt. However if you want it for something like a car then you would have a better chance of getting the rate advertised.