We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Lloyd's refinance loan

debI
debI Posts: 6 Forumite
in Loans
Hi
I have a lloyds CSU refinance loan. I took it out 2 years ago to pay outstanding debt. I don't have much left to pay off. When I took it out they said I could not borrow money again for the next 7 years, is this correct?!? Please advise.
Thanks

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,383 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    If that's their policy then, yes, it's correct. Nothing to stop you applying elsewhere.
  • debI
    debI Posts: 6 Forumite
    Will having this type of loan affect me applying for another loan?
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    debI wrote: »
    Will having this type of loan affect me applying for another loan?



    what do your credit files show: that's what other lenders will see
  • longtermplanner
    longtermplanner Posts: 1,442 Forumite
    There is no "don't lend to this man as he has taken out a X loan" category on your credit file. You will be able to borrow elsewhere if your credit record is good enough.

    But wouldn't this be a shame? You are so close to being debt free! Think how good your life will be when this loan is paid off and everything you earn belongs to you, not some bank.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.5K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.1K Spending & Discounts
  • 246.6K Work, Benefits & Business
  • 603K Mortgages, Homes & Bills
  • 178.1K Life & Family
  • 260.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture