Post student loan

manrow

My son has recently finished a masters degree and has started his first job. As usual he is to be paid monthly and hence is in need of short term financial support for the obvious matters of deposit for deposit on a flat etc. for which he has been turned down by both the bank with which he has run his affairs throughout 5 years at uni and also by the bank providing his student loan.

While understanding that credit scoring rules these days has any other students found ways round this dilemma?

I hasten to add that in a similar position many years ago I had to borrow money I didn't need to obtain a satisfactory credit rating! Does this still apply today?

dmg24

Where is he living at the moment? Can he not stay there until he has saved for a deposit?

manrow

Good thought dmg24, but he has moved over 100 miles.

By the way, poor old dad could lend him the money and have perhaps been too clever but I wanted him to establish his own credit record for the future?!

dmg24

You could lend it him on the understanding that he pays it back as soon as he has been at work for a few months? By this time he will be able to show his bank proof of regular income, and then hopefully be able to get credit of his own?