Please help need advice - rejected for loan!!

S3quence

Hi

I was applying for a loan from Barclaycard (@6.3 typical apr) for £20,000
and they rejected me!!!

I am 23 I have a decent job paying me £32,500 a year and am a homeowner why will they not lend me anything (not even less than £20,000) not a penny?

Here is a summary of my finances...

Incoming:
Approx £2,200 after tax (inc overtime)

Outgoing:
Morgage inc all bills = £680 (Into mine and the girlfreinds joint account)
Mobile Phone = £40
Car Payments = £260 (via loan with barclaycard loans)
Gym = £35

Other things I can think of that might affect it...
- Had interest free loan for 12mths for couch paid off this month (£1000)
- Had storecard I paid off in full 2mths ago (£150)
- Got mortgage last year (Oct)
- Have lived at this address since Oct, previous address renting for 12mths
before that 21yrs with parents
- I have had 1x small loan for £1000 for a laptop a few yrs ago
- Im on the electrol roll
- im in overdraft of £600 normally - no interest (but paying this off £300 over next 2 months)
- Have £1000 in savings
- I have missed one council tax payment as they "forgot" to set up the direct debit. Though was paid the next day
- I have gone over my overdraft a couple of times (mainly cos of a company taking out a payment they shouldnt have or money not going in on time) but thesew have all been refunded (thanks to martin) or they didnt charge me for anything

I have about £1000 after my bills are paid to save, go pub, do whatever!

I have my car loan which I have the settlement figure of £9,000 for I am selling my car for £9,000 to pay this off and wanted to take out a loan for £20,000 for my new car @ £388 a month which is £110 more a month than I pay now and can afford.

I was shocked when they said they would not give me a loan for anything!! I am a customer with them for my car loan but this is a different dept (BC Motorloan and not Barclaycard Loans) so wont extend the loan or do anything with it, like they are 2 seperate companies.

Does anyone know why they might have rejected me? or how this will affect my credit rating or future credit attempts? Im thinking im going to leave 6 months now and clear up my overdraft and save a little, and even pay some off my current car loan. But will i get the same problems in 6 months time?

Hopefully someone has some advice for me as I dont want to have problems later on or keep getting rejected!

LOL unless someone wants to lend me £20k over 5 years for £6.2% :rolleyes: