Graduate Loan Advice

vettyemma

I graduated this summer and have just got a job. However i need some money to pay for living expenses during my first month of work, rent and deposit on a flat + furniture etc. I was thinking about getting a grad loan of about £5000 to cover the majority plus to get rid of some of my other debts. Do you think id be accepted? I bank with both HSBC and Natwest and have done for 10+ years. My salary will be £27,265. The current debts i have are Student overdraft £2000 and a credit card of £500, no defaults or anything like that, my credit rating was in the high 600's and low 700's depending on the company. Any advice would be greatly appreciated?

Thankyou

jonesMUFCforever

Try the bank where your student account was held.

vettyemma

thanks, yes thats what im going to do, i think i should have worded my question better.... im more wondering what people experiences are of getting accepted and whether you think with my circumstances i would be accpeted?

opinions4u

It's impossible to comment on likelihood of acceptance. There are dozens of variables that go into underwriting a personal loan. These differ from lender to lender.

The current debts i have are Student overdraft £2000 and a credit card of £500

So why borrow £5,000? And are you replacing any interest free money with interesting charging money?

no defaults or anything like that, my credit rating was in the high 600's and low 700's depending on the company. Any advice would be greatly appreciated?

Ignore the number. It means nothing. What's weak about your credit file? Registered to vote? Missed payments?

iolanthe07

are you replacing any interest free money with interesting charging money?

The OP's student overdraft and credit card will cease to be interest free when (s)he starts a job.

jonesMUFCforever

If you have only just graduated why not ask for a Graduate account for say £1000 interest free and borrow only what you need on a Graduate loan?