Seeking advice on potential lenders

Alex887766

Hey there community,

i am currently seeking for loan of about 2k-3k for 3 years or so for moving house, and i am here to get some advice on realistically doable options.

I am 26 single no kids, and earn 15k/y full time, have 2 "credit building" credit cards (both have 0 balance, so i am debt free at the moment). My credit rating at experian is 818 and 3/5 at callcredit. My banks i HSBC and after reading forum and other sources i am certain that HSBC is no go since they decline unbelievable amount of people with good credit score and their criteria of accepting is total mystery.

Week ago i applied online for Sainsbury loan and was declined.
I am not seeking for super low rate loan, i'm just wondering who should i consider as an option to apply with?

DCFC79

Credit scores dont exist, lenders dont see them only you do. For loans that small I would normally suggest your own bank.

Alex887766

DCFC79 wrote: »

Credit scores dont exist, lenders dont see them only you do. For loans that small I would normally suggest your own bank.

i understand that, i've mentioned them just to give some sort of idea on my "status" for people who might be able to help here

as to the bank, that was my first idea, but as far as i understand, i got "unlucky" with choosing bank in the first place, since HSBC does have one of the if not the highest rate of declines among all banks.

thebritishbloke

Alex887766 wrote: »

i understand that, i've mentioned them just to give some sort of idea on my "status" for people who might be able to help here

as to the bank, that was my first idea, but as far as i understand, i got "unlucky" with choosing bank in the first place, since HSBC does have one of the if not the highest rate of declines among all banks.

Thing is, you don't know until you try.

If you've handled your account well, you'll have a good internal score with them. They'll probably be willing to give you a 2k loan if so (they give students 3k overdrafts!).

Alex887766

thebritishbloke wrote: »

Thing is, you don't know until you try.
.

Thanks for the advice, my concern is that if i try with bank and get declined, wouldn't it be guaranteed decline anywhere else for couple of month? so idea of this topic was to ask if there are any "sure" loan companies that would probably work for person my age/income

DCFC79

Alex887766 wrote: »

Thanks for the advice, my concern is that if i try with bank and get declined, wouldn't it be guaranteed decline anywhere else for couple of month? so idea of this topic was to ask if there are any "sure" loan companies that would probably work for person my age/income

As far as I know there are no "sure" loan companies that work for a person of your age/income.

jonesMUFCforever

Alex887766 wrote: »

Thanks for the advice, my concern is that if i try with bank and get declined, wouldn't it be guaranteed decline anywhere else for couple of month? so idea of this topic was to ask if there are any "sure" loan companies that would probably work for person my age/income

There is normally a clue hidden in your internet banking - do you ever get offers for loans or credit cards?
If you do - you might get a loan if not you will have to ask.
They may be able to tell you without credit scoring you if their internal credit scoring indicates if credit is available.

thebritishbloke

Alex887766 wrote: »

Thanks for the advice, my concern is that if i try with bank and get declined, wouldn't it be guaranteed decline anywhere else for couple of month? so idea of this topic was to ask if there are any "sure" loan companies that would probably work for person my age/income

Not entirely, a search will be recorded but it won't guarantee you're declined.

Nationwide do a soft search for loans, they tell you what rate you could get and how much. It doesn't affect your credit rating. I'd do this, and if they offer you it at their advertised rate (4.9% I believe) then go ahead with the application. If not, I'd report back here before you proceed.

Alex887766

thebritishbloke wrote: »

Not entirely, a search will be recorded but it won't guarantee you're declined.

Nationwide do a soft search for loans, they tell you what rate you could get and how much. It doesn't affect your credit rating. I'd do this, and if they offer you it at their advertised rate (4.9% I believe) then go ahead with the application. If not, I'd report back here before you proceed.

This sounds promising, thank you!
Another question though, is it possible or is it a good idea to try with another bank rather than my main account bank? i personally know people with much much worse credit history than i have (multiple unpaid bills, maxed credit card e.t.c.) who got loans with no problems from natwest and nationwide.

welshiex

I have a pretty good record to date, no late payments etc. I have found lloyds are great okay I've been with them a long time but at 18 I was offered a credit card, 19 I had my first loan of £1000 paid over one year and now I'm nearing the end of my second loan with them age 20 of 2350£ over one year. I really have had no complaints and they seem to be rather generous for a big bank!

forgotmyname

Your own bank is usually the best. Going back a few years now i was in a terrible position and on the verge of bankruptcy.

That sorted but credit file trashed as i made a silly low full and final offer. Or declare bankruptcy.

6 years on from that with a clean credit file. My bank offered me account upgrades and credit cards etc.

The only other applications i have received was an AQUA one and One of the lenders i owed money to original. They offered me a card to help me rebuild my credit. My credit is fine thanks.

A big lesson in anything can happen.. You never know. I now pay my card off every single month even though i have an interest free 15 months.