Loan for my situation

masscrazy

debtcutter wrote: »

Have you deleted your old posts?

Why?

If you did get the loan at that rate and actually do end up paying it off within 1 year, well done, that's not a bad rate.....

Yeah thats the idea.

Brock_and_Roll wrote: »

Aside from all the disagreements here, if banks are lending £15k unsecured loans to people on £25kpa with two year's employment history then I can't see that they have really learnt their lesson from past mistakes!

Any half decent bank pricing/risk model is never going to show that such lending is viable at that rate given the default probability and the likely loss given default. If all this is true, I would LOVE to have a look at their models - after all us taxpayers bailed out HBOS!

Looking at all my history the bank manager was pleased to give me a loan. I live at home low monthly expenses and never been into my overdraft, home owner with RBS etc etc, several things i believe got me the loan at that rate. It was the system that accepted me anyway and since halifax are my bank they've seen my account activity and see low risk i guess.

ch3101

Do you own like a buy to let property then?

That's something I also plan on doing when I finish uni and get a job, assuming it's near home, is buying a couple BTLs and staying at home for a couple more years.

masscrazy

ch3101 wrote: »

Do you own like a buy to let property then?

That's something I also plan on doing when I finish uni and get a job, assuming it's near home, is buying a couple BTLs and staying at home for a couple more years.

Yes I do. That is a good idea. Buy, stay at home and take in the rent, invest further.

Texfed

other than RBS what other banks offer me good loan rates?

[Deleted User]

Texfed wrote: »

other than RBS what other banks offer me good loan rates?

The ones who score you highly on their lending crtieria.

dealer_wins

Texfed wrote: »

other than RBS what other banks offer me good loan rates?

Whats your definition of "a good loan rate"

Going by the posts on this board it could be anything from 5 - 5000% APR!!

masscrazy

Brock_and_Roll wrote: »

Aside from all the disagreements here, if banks are lending £15k unsecured loans to people on £25kpa with two year's employment history then I can't see that they have really learnt their lesson from past mistakes!

Any half decent bank pricing/risk model is never going to show that such lending is viable at that rate given the default probability and the likely loss given default. If all this is true, I would LOVE to have a look at their models - after all us taxpayers bailed out HBOS!

"Conviction is a luxury of those on the sidelines."