Trivial question about Lloyds TSB online for those who have it

MoneySaverLog

Just out of curiosity I just tried a online quote for a loan with Lloyds TSB to check the CPD marker. I put in £10,000 over 48 months and it came back with installments of £244.33 and a APR 8.3%

I don't actually want it, so cancelled out, but if I was to continue to select it the fact the APR came up with the repayments below representative APR does it mean I'd have been accepted and there are no CPD markers on loans?

simax

Correct. You would have had the funds in your account straight away too....

BugsyBrowne

MoneySaverLog wrote: »

Just out of curiosity I just tried a online quote for a loan with Lloyds TSB to check the CPD marker. I put in £10,000 over 48 months and it came back with installments of £244.33 and a APR 8.3%

I don't actually want it, so cancelled out, but if I was to continue to select it the fact the APR came up with the repayments below representative APR does it mean I'd have been accepted and there are no CPD markers on loans?

I would say the internal ratings must be quite accurate then as I started with 3 went down to 5 and now upto 4 and got quoted 15.9% where as your a 1 and got 8.9%.

Sally22_2

Just had a quick look on my online banking.

My Upgrade Account changes to blue. I cant click on open a second current account as I already have two so I cant help with that!!

With the loan though, I click on the loan quote. It comes up with details of my existing loan. I put in various amounts between 3k - 10k over between 12 - 48 months and got offered rates of anything between 18% and 30%.

My current loan has 12 months left at £339pm and it was a rate of 8.5%. Not sure why the rate is so much higher than what I already have?! Does this mean I have the CPD marker? I dont want to borrow more money so Im not actually that fussed, just interested!

trikidy

I think if you had a CPD marker on loans it would mean you couldn't get one full stop, the fact you get offered one means you do not, but the high rate may mean you have a poor internal score.

BugsyBrowne

MoneySaverLog wrote: »

Just out of curiosity I just tried a online quote for a loan with Lloyds TSB to check the CPD marker. I put in £10,000 over 48 months and it came back with installments of £244.33 and a APR 8.3%

I don't actually want it, so cancelled out, but if I was to continue to select it the fact the APR came up with the repayments below representative APR does it mean I'd have been accepted and there are no CPD markers on loans?

But you will still be credit searched.

MoneySaverLog

BugsyBrowne wrote: »

But you will still be credit searched.

No external credit search, went on internal score. Checked that before getting the quote.

BugsyBrowne

MoneySaverLog wrote: »

No external credit search, went on internal score. Checked that before getting the quote.

Where did you check that or where does it say that?

MoneySaverLog

On entering the details, it said no search footprint would be left. I did not get as far as selecting which loan I wanted, it gave a few options, as I did not want to proceed any further.

Same with the increase in overdraft from 1K to 2K, no live external search was done. Checked Call Credit this morning and nothing is showing from Lloyds TSB.

Lloyds have a monthly feed from the CRA which is separate to the internal scores. So no need for them to do a external search I guess they can approve on what they know / account conduct.

Saints2011

Just click on Loans on the right hand side, and put in a amount & time frame and it will calculate a rate, you can then accept and go on if you wanted. If it states do you want more at the bottom and gives you amounts, it means you could literally have more. Keep playing with the amount of the loan you can quickly find out what the max you would get..