Help and advice on a Natwest loan please - Chances of being accepted?

Moneysaverchris

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Hi i am just trying to get a rough idea of whether ill be accepted i don't want to leave unnecessary footprints on file, However natwest hate me and never even wanted to give me a credit card 18 months ago despite decent credit history.

So do i apply with santander or natwest!

Here's some info.

Looking for £9000 loan.
salary £23k
21yrs old
good to excellent credit score - experian
no missed or late payments
capital one card £1200 limit - £300 balance account 3 yrs old !
phone contract - account 3 years old
natwest bank account money paid straight in 3 years old
santander account 7 years old but dormant recently got pin etc again.
on electoral roll
disposable income 1k a month.

please refrain from asking me why i want a loan etc it will be paid within 18months and i would like to do it this way.

think thats all any advice is great

thanks in advance

chris

bargainbetty

If your salary is with Natwest, then go there. They can see your income, expenditure and cash flow. They may not hate you, they might have just thought giving a credit card to you then wasn't good business sense at the time. Since you refuse to provide more detail, that's the best I can do.

Good luck

R_P_W

So you have £1000 a month surplus? Very good position to be in!

I don't know whether you will be approved for a loan or not.....feels a lot of money for your salary.

Have you got any savings? That way you could borrow less and stand a better chance?

DCFC79

No 1 can say what your chances will be to get accepted but you might have a better chnace with going with natwest as your salary is paid in there.

Natwest dont hate you at all.

meer53

Natwest should be your first stop. If they won't agree, i'd be very careful who you approach next.

How long are you wanting to take the loan over ?

Moneysaverchris

R_P_W wrote: »

So you have £1000 a month surplus? Very good position to be in!

I don't know whether you will be approved for a loan or not.....feels a lot of money for your salary.

Have you got any savings? That way you could borrow less and stand a better chance?

Hi do you think its too much for my salary i do have some savings and i could drop the loan to £7500 realistically, also i can provide more info if i need to.

DCFC79 wrote: »

No 1 can say what your chances will be to get accepted but you might have a better chnace with going with natwest as your salary is paid in there.

Natwest dont hate you at all.

Im aware no one can really say what the chances are but there maybe people in a similar position.

meer53 wrote: »

Natwest should be your first stop. If they won't agree, i'd be very careful who you approach next.

How long are you wanting to take the loan over ?

I understand i don't want really to apply more than twice was just gonna get 0% card if all else fails.

I really don't mind how long as i will have it paid in 18 months but was going for 4/5 yrs unless you have any advice on this

thanks for the reply's

gb12345

Moneysaverchris wrote: »

Looking for £9000 loan.
disposable income 1k a month.

How much is the "thing" that you are wanting the loan for?

If I was a lender I would be wondering why someone who has 1k a month spare can only stump up £1,500 (based on your comment in a later post) of their own money.

Moneysaverchris

gb12345 wrote: »

How much is the "thing" that you are wanting the loan for?

If I was a lender I would be wondering why someone who has 1k a month spare can only stump up £1,500 (based on your comment in a later post) of their own money.

The car is £15000

I am putting £6000 towards it but can do the £7500 and i have X Amount elsewhere. But id rather leave that alone.

gb12345

Moneysaverchris wrote: »

The car is £15000

I am putting £6000 towards it but can do the £7500 and i have X Amount elsewhere. But id rather leave that alone.

That is fair enough - always a good idea to keep some savings for emergencies.

If you can afford to put the extra £1,500 in then it would look better as it would reduce the loan/salary ratio, which is one thing a lender looks at.

Is the credit card used and cleared every month?

Moneysaverchris

gb12345 wrote: »

That is fair enough - always a good idea to keep some savings for emergencies.

If you can afford to put the extra £1,500 in then it would look better as it would reduce the loan/salary ratio, which is one thing a lender looks at.

Is the credit card used and cleared every month?

Ok thats good glad you agree on that!

Yeah i can afford that its not an issue,

The credit card did have a balance on it for a a good while but is managed within limit and is now cleared every month.
my bank manager says i manage my account very well.


Im just waiting for lloydstsb to update my experian file before i apply as they put a default on it wrongly!!! but thats another story its all being sorted.

SeanG79

You could consider vehicle finance if you arent approved for the amount of money you need.

You can also do a soft search with Nationwide (granted you dont want to go there, but it wont leave an impression and will give an indication of how high street lenders view your credit status)