Refused loan online, accepted in branch

darcyboo

Hi all

Just sharing in case anyone's in a similar boat.

Last week I applied for a Halifax loan online and had my application rejected. I was amazed and quite concerned because I consider my credit history to be fairly decent, I bank with Halifax, have had a loan with them before, never missed a payment etc etc.

I popped into branch the next day and they did a new application based on the same info which was accepted immediately.

So, it seems it's worth opting for the human option in some cases! :T

jonesMUFCforever

Yes a human being can ring up to overrule a lending decision a computer can't.

darcyboo

Except no phone call was made...

guesswho2000

darcyboo wrote: »

Hi all

Just sharing in case anyone's in a similar boat.

Last week I applied for a Halifax loan online and had my application rejected. I was amazed and quite concerned because I consider my credit history to be fairly decent, I bank with Halifax, have had a loan with them before, never missed a payment etc etc.

I popped into branch the next day and they did a new application based on the same info which was accepted immediately.

So, it seems it's worth opting for the human option in some cases! :T

Interesting, a few years ago I enquired over the phone with NatWest about a loan, they seemed quite confident of acceptance, but I wanted a bit more time to think...

Couple of days later I applied online - declined straight away. Very shortly afterwards, however, NatWest called me to follow up my loan enquiry previously - I explained the online situation but they didn't seem to think that'd matter - ran through my details, hold for a few minutes, then surprisingly I'd magically been accepted, £ in account a few days later!

I was surprised, to say the least, but wasn't complaining!

They assured me on the phone that it would only show as one application on my CRA file. They lied. I queried this with the CRAs, but NW wouldn't remove it. But never mind, in the past now!

I suspect the commission fairies may have been at work.

opinions4u

Were the rates identical?

darcyboo

opinions4u wrote: »

Were the rates identical?

Can't be certain on the interest rate front, the online rate stated 'from' 6.8%. I ended up getting 7.2% in branch. So yes it was higher, but then there's no saying I'd have got the lower rate online anyway.

darcyboo

guesswho2000 wrote: »

Interesting, a few years ago I enquired over the phone with NatWest about a loan, they seemed quite confident of acceptance, but I wanted a bit more time to think...

Couple of days later I applied online - declined straight away. Very shortly afterwards, however, NatWest called me to follow up my loan enquiry previously - I explained the online situation but they didn't seem to think that'd matter - ran through my details, hold for a few minutes, then surprisingly I'd magically been accepted, £ in account a few days later!

I was surprised, to say the least, but wasn't complaining!

They assured me on the phone that it would only show as one application on my CRA file. They lied. I queried this with the CRAs, but NW wouldn't remove it. But never mind, in the past now!

I suspect the commission fairies may have been at work.

So strange, seems these online systems aren't always to be relied upon!

I've had 2 entries on my credit file as a result too, but don't think that's anything to be majorly concerned about.

izools

I had this with RBS in 2007.

I later found out the bloke in branch lied through his teeth on my application in branch to artificially inflate my creditworthiness

opinions4u

darcyboo wrote: »

Can't be certain on the interest rate front, the online rate stated 'from' 6.8%. I ended up getting 7.2% in branch. So yes it was higher, but then there's no saying I'd have got the lower rate online anyway.

Sounds like different scorecards and pricing based on the channel you buy through.

Cycrow

i guess its possible when going in branch, they use information about your account, where as maybe they dont if you apply online