Advice please - approved loan then had it cancelled?!?

nickyjay21

Hi,
I wonder if anyone could offer some advice about wether it is worth complaining or not. My partner applied to a bank that he holds a savings account with, has done for approx 28 years, for a loan. Long story short, car broke, need reliable replacement asap. He had a response from the back that it was approved, yet then received a phone call that it had been cancelled as the account he put in the details (was asked if he had an account with the bank in question, didnt specify it had to be a current account!!) was a savings one, not a current account. Since that was cancelled, he then applied to another loan provider but had that refused. He has excellent credit rating - only has the mortgage in his name, yet was refused by the 2nd provider. i can only assume that it has somthing to do with the 1st bank leaving a trail of an incompleted or cancelled loan on his credit file? how can we sort that?
thanks

_Andy_

Very unlikely that one credit search would cause a decline.

Tixy

All that the second potential lender would see is that the first company had done a credit application search. And that cannot be removed as it is factually what happened.

Did he ask the first potential lender if he could supply them with different bank account details to enable that loan to go ahead? Was it a requirement of the loan that he had a current account with that lender?

He could try asking the second lender why he was declined (they should give a rough idea if asked - i.e due to something on his credit file, due to affordability etc). Or he could try appealing the decline with either the first or second lender.

You mention he has an excellent credit rating but his credit file is only one thing that a potential lender will assess when making a lending decision.

DCFC79

You say he has an excellant rating but has he checked it ?