Increasing an Approved Loan?

Uncle_Fester_2

I've been approved for a personal loan of £14.500 with the Abbey, I want to increase it by £5.5k, so new total £20k

If I go through with the revised app & get turned down for the higher amount, will they let me know how much they can go up to? Or will they not lend me anything because I've asked for more

Many Thanks

miha_2

hi

for my (limited) expirience I know that you should ask if posible, before you do the application, as they should be in a possition to tell you what is possible, and don't take no for an answer, if the firs person can't help just call again

Moonbeam

It can be worth applying for the extra amount, dependant on the systems they use if they can't offer you it they will normally still be able to offer the original amount under the same credit score. Normally the main difference is that with a guaranteed offer it is a smaller application form as they do fewer checks, with a full application for the higher amount they will need full details from you.

Rafter

All depends on the computer.

If the percentage of your income is ok it may say yes no problem.

Alternatively it could decline you or offer it to you but at a higher rate.

As others say, just call and ask. If your rating is skweaky clean, you can always get the balance somewhere else.

R.

jonesMUFCforever

Uncle_Fester wrote: »

I've been approved for a personal loan of £14.500 with the Abbey, I want to increase it by £5.5k, so new total £20k

If I go through with the revised app & get turned down for the higher amount, will they let me know how much they can go up to? Or will they not lend me anything because I've asked for more

Many Thanks

Make your mind up Uncle Fester!!
Only 2 days ago you wanted an extra £2000 but now it's up to £5500.

Personally I would be wary of trying to ask for too much extra. They might want to know why suddenly your are requesting such a large extra amount and might decide that you are a higher risk and charge you likewise.

Uncle_Fester_2

ejones999 wrote: »

Make your mind up Uncle Fester!!
Only 2 days ago you wanted an extra £2000 but now it's up to £5500.

In those 2 days my house extension bill went up! :mad:

The loan was agreed for the amount today.

Thanks for everyone's input