Northern Rock's 'Personal Circumstances'

goonernumber1

Hi there,

I have applied for a Norther Rock loan but have just received a decline letter stating that I don't meet their 'personal circumstances'.

I called them and they said that they have not even done a credit search on me because of the personal circumstance issue.

They could not divulge information as to what these personal circumstances are however.

For me, these would include job, salary, living situation etc.

I am a Head of Department in a secondary school, have a mortgage and am on over £30,000 a year on full time contract.

Does anybody know of any other 'personal circumstances' that Northern Rock look at to assess my loan application.

Thank you

tsharp

Maybe you smell?

goonernumber1

tsharp wrote: »

Maybe you smell?

Actually I do really smell.

Maybe they have a smellaphone and could smell me!

immoral_angeluk

Are you in arrears with anyone? Have you moved recently? Are you on the electoral roll?

Burlesque_Babe

Were there any errors on the application form? Date of birth incorrect, postcode might not have matched up ?


Did you list your outgoings/existing debt? Maybe the total amount of outgoings against your income was higher than their lending criteria?

elantan

maybe there scared you might actually pay them on time ...so cant give you any charges ...strange people these banks

goonernumber1

immoral_angeluk wrote: »

Are you in arrears with anyone? Have you moved recently? Are you on the electoral roll?

The flat that I bought was about 9 months ago so I guess that could be recently but surely the fact that I've bought it would be more benficial.

Yes I am on the electoral role.

I have defaulted on a couple of student loans but that was about 5 years ago. I have been paying for these monthly (about £50 a month) for 3 years without fail now but they said that they di dnot do a credit check so it can't be that.

Any more ideas??

Ali-OK

Northern Rock used to be known as one of the more difficult lenders (ie. strict criteria) so as to avoid those who may fall into the "bad debt" category and therefore offered better (lower) interest rates.

Things like being with the same employer for x years and current address for x years. If you've only been at your address for 9 months, how long were you at your previous address? They'd probably be looking for 5 yrs+ at your previous address.

You might get a more insightful answer on the Loans Board too.

Burlesque_Babe

It could be you failed their own internal credit scoring for some reason so they did not progress on to doing the credit search. I know (from doing some reading a while ago) that length of time at an address is something which is part of the score.

Defaults stay with you for 6 years, did you put this on the application?

laurajayne

Possibly you have other products with their partners (I'm sorry, I don't know who or if they actually have any but it's a thought).

Tashja

elantan wrote: »

maybe there scared you might actually pay them on time ...so cant give you any charges ...strange people these banks

Sorry . . . this made me giggle :rotfl:

T xx