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  • Nasqueron
    Nasqueron Posts: 10,942 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    della1234 wrote: »
    I applied for nationwide loan last week and got refused.
    I am an existing customer already with one loan with them.
    The did a soft search on me and offered me a rate.
    I then applied and got knocked back once they did a full credit check. I have no late payments or anything but a lot of debt, which was what I was wanting to use new loan for. So guessing they saw all the debt an decided I was too risky!

    I don't know if this can be done in branch but applying say on the web, they don't know if you will repay the debt or simply spend it and then have even more debt. The thing in branch they could probably get the loan and pay off other finance then and there - maybe a refinance is better?

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    sparky_si wrote: »
    Lol I'm meant zopa! Damn auto correct haha

    Zopa, and other peer-to-peer lenders tend to be more selective in who they lend to compared with high street lenders.
  • MABLE
    MABLE Posts: 4,239 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I applied a while ago and went for the full credit check and offered me 3.6 percent. However in the end did not need the loan.
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