self cert, unsecured loan

joepublic_2

i am looking for a self cert unsecured loan. i have little credit history but whats there is good. I no one knows any good lenders i should try then does anyone know any that i should avoid?

Xbigman

joepublic wrote:

i am looking for a self cert unsecured loan. i have little credit history but whats there is good. I no one knows any good lenders i should try then does anyone know any that i should avoid?

First stop should be your own bank. They will know your account history and can see money going in and out and bills rent/mortgage being paid.
Don't just fill out a form but try to get into a branch and talk to an account manager.
Regards



X

Will.Power_2

Be wary of applying to too many places. Each will do a credit search, and generally the more credit searches on your file, the less likely you are to be accepted.
If you're on the Voters' Roll and own your home, you should be OK.
Why do you need to self cert... if you don't have the income to repay, beware of getting a bad credit record.
A zero interest credit card may be easier to obtain, and cheaper for a short term. If you make the payments OK, it'll give you a good record to switch to a loan when the zero interest expires

joepublic_2

yeah, am self employed and dont own my own home! My bank is Nat West and are worse than useless! Have heard people on here refer to them as "crap west" and its a name they deserve. I have an isa and a buissiness account with them thats allways in credit and i have asked three times in the last 8 years to lend me money but they wont. Have managed to get the loan with lombard and the rate is 8.9 which is good for self emplyed

gibby

did you have to prove your income by self cert?
or did they not ask?


G

joepublic_2

they didnt ask for anything! have just got the forms through today! i think they check some more but it says i have been accepted so far!!! will send the forms in and see

gibby

Ive posted this elsewhere but northern rock dont ask for accounts or self cert if loan value is under 10 K

they are supposed to be one of the cheapest but dont go for the loan protection as you can get ASU much much cheaper

do it by web application - as by phone they are too push for the protection which is very over priced


hope that helps


Gibby

gibby

cahoot do 2 loans and if they are under 6k they dont ask for accounts.

I have found its useful to ring around asking what the criteria is for selfemployed and what documentation they need as they all have differeing rules - and some class your turnover as income

funny world


Gibby

Nats8

Hiya,

I was reading through this post as I'm looking to extend the term of my loan to reduce the monthly payments, and take out an extra 1000 (totalling approx 7500-8000).

It is currently with Nationwide, but I have been self-emlpoyed for just less than 3 months and over Christmas, work was slow, though is starting to pick up a bit now (fingers crossed).

I have only earnt approx 700.00 since early Nov, which is the main reason I'd like to spread loan over 7 years to reduce the outgoings otherwise I'm really going to start struggling, but realise that most companies won't touch me.

I have good credit rating apart from this, only had one late payment on catalogue a year ago as cheque got lost in the post.

Does anyone know of a company that would consider me as I don't want to apply and be turned down too many times (I haven't applied anywhere yet)

Failing that, is it worth me ringing them to ask if I can pay less for a while? Or will this damage credit rating anyway?

Thanks for listening