RBS Loan

chambta

If you've had the paperwork it's passed the credit check and, assuming everything you've stated in the application is correct, you will get the loan.

yoshiyella

chambta wrote: »

If you've had the paperwork it's passed the credit check and, assuming everything you've stated in the application is correct, you will get the loan.

Thank you for this - I always err on the pessimistic side, that way I won't be (as) disappointed!

yoshiyella

Just checked my equifax credit file and can see the searches on the date I made the application. They won't do another check with experian will they? hope they don't as I still do not show up on electoral roll with them.

chambta

One credit check only.

yoshiyella

Grr! Just checked the loan agreement and it says net wage £33000 and net monthly extra income £8000 when my wage is £33000 gross with an additional £8000 gross yearly. How much affect will this have on my application? Have one other loan with less that £4000 outstanding and applied for £10000. Thanks chambta for your replies thus far!

yoshiyella

Just called up RBS - sadly they declined as I failed the credit check!
What a waste of time sending in signed form and wages slips which are the originals.

Thank you for all information given but for anyone else who applies please note that although credit check is done this means nothing from whatever else they ask from you as if you fail that you have failed.

Peed off!

Pixie5740

A lender doesn't know whether or not to lend to you until a credit check has been done.

Maybe this decline will be a blessing in disguise.

yoshiyella

Pixie5740 wrote: »

A lender doesn't know whether or not to lend to you until a credit check has been done.

Maybe this decline will be a blessing in disguise.

1) A credit check was done before documentation was sent out so no need to have wasted my time

2) A blessing in disuguise - please elaborate or are you assuming that I cannot afford this due to past indiscretions (which by the way was being in a car accident and spending several months in a coma in which none of my then creditors (4 years ago now) would not speak to my Mum and so of course I could not pay. My £7000 savings lasted the 5 months I was in the coma and then after that I had nothing for a further 9 months of income. I only have one commitment and low household/rent bills and a salary of £33000 a year and further income of £8000 a year which I have been earning now for last 3 years and in a permanent and very secure job)

Sorry for the rant but am fed up with being treated as if I have brought my old situation about due to my own stupidty/naievty. On top of this in the last 4 years I have paid off £15000 worth of debts (of which £8000 was charges whilst in a coma/recovering), paid off the £6000 bill caused by my car accident as the person causing said accident drove off and my insurance company refusing to pay as the wheels were non standard fit alloys wheels though I bought the car from a dealer and no notes on the V5 and have saved over £10000 for my wedding, honeymoon and stamp duty/solicitor fees for the house we are upgrading to. - Therefore I feel as if at the very least my own bank would consider me as they know my whole history and can see that the loan is more than affordable. But hey ho!

Pixie5740

yoshiyella wrote: »

1) A credit check was done before documentation was sent out so no need to have wasted my time

2) A blessing in disuguise - please elaborate or are you assuming that I cannot afford this due to past indiscretions (which by the way was being in a car accident and spending several months in a coma in which none of my then creditors (4 years ago now) would not speak to my Mum and so of course I could not pay. My £7000 savings lasted the 5 months I was in the coma and then after that I had nothing for a further 9 months of income. I only have one commitment and low household/rent bills and a salary of £33000 a year and further income of £8000 a year which I have been earning now for last 3 years and in a permanent and very secure job)

Sorry for the rant but am fed up with being treated as if I have brought my old situation about due to my own stupidty/naievty. On top of this in the last 4 years I have paid off £15000 worth of debts (of which £8000 was charges whilst in a coma/recovering), paid off the £6000 bill caused by my car accident as the person causing said accident drove off and my insurance company refusing to pay as the wheels were non standard fit alloys wheels though I bought the car from a dealer and no notes on the V5 and have saved over £10000 for my wedding, honeymoon and stamp duty/solicitor fees for the house we are upgrading to. - Therefore I feel as if at the very least my own bank would consider me as they know my whole history and can see that the loan is more than affordable. But hey ho!

If a credit check was done and then more documentation was asked for then it sounds like you were borderline for being accepted. Upon receiving additional documentation from you RBS chose not to lend to you. It happens sometimes.

As for the loan being a blessing in disguise as perhaps this loan isn't right for you at this moment in time. There are times when I have borrowed money in the past and even though I had a decent APR eventually I would think to myself, if I hadn't borrowed this money then I wouldn't have £X coming out my account every month for the next 3 years.

That's all I meant...no need to go off on one.

yoshiyella

Pixie5740 wrote: »

If a credit check was done and then more documentation was asked for then it sounds like you were borderline for being accepted. Upon receiving additional documentation from you RBS chose not to lend to you. It happens sometimes.

As for the loan being a blessing in disguise as perhaps this loan isn't right for you at this moment in time. There are times when I have borrowed money in the past and even though I had a decent APR eventually I would think to myself, if I hadn't borrowed this money then I wouldn't have £X coming out my account every month for the next 3 years.

That's all I meant...no need to go off on one.

Unfortunately when I called them the lady said wasn't even a borderline

I apologise for going off on one but I wouldn't have applied for the money if it wasn't necessary. As it is the operation required will have to be put off for another 18 months.