Refused online....

reyno1

Hi guys

I applied for a loan (for car) with my bank online (LLoydsTSB) but it was refused. If I go in to the branch, do you think it is likely that it will be same answer?

Thanks in advance

Rafter

Probably not.

Lloyds probably have a different system in branch that may give you a loan - but not at the juicy rates advertised online. That is unless you have a poor credit rating.

Post back with how much you want to borrow, what your income is, what other debts you have and what your credit rating is like. It may be that they think the loan is unaffordable or too much of a risk for them.

Most likely though that you just don't qualify for the online deals for some reason. It could even be that they want you to come into branch so they can try to flog you insurance or something else you don't need - but that would be very cynical of me!

R.

reyno1

Hi ya

Thanks for the reply. Was looking for £8K (need a people carrier). Will be joint car between myself and husband. Probably will not need loan from bank as it looks as though hubby is entitled to a car allowance so may just lease it.

Back to the LLoydsTSB, not entirely sure of credit rating, pay all bills on time, only got mortgage and credit card which is cleared each month. However, did hit a sticky patch a few years ago (about 5), got quite a few bounced direct debits and incurred some charges, (was weekly paid, and never quite got it right!) - did not miss any payments though.

Have often checked the rate that I would get via the online loan thing - but never pressed send. Right up until I put in a claim against LLoydsTSB for my charges, was always quoted round about 7% ish - month after I sent my letter, APR rocketed up to 24.9%!! Good job I was not accepted!

Kind regards