APR Loan help

SteveyJC

Hi,

I'm thinking of taking out a loan to put in a new kitchen. Looking at Tesco Bank, as there a a few benefits like overpaying etc.

Their advertised rate is 3.2%. I have a car repayment and a mortgage every month. Both are reasonably small amounts. I don't owe any other money. I do have Credit cards but repay in full every month.

The last time I checked my credit score it was excellent

How likely is it I will get the 3.2%? My fear is applying, getting offered a stupid %APR then have to apply elsewhere and affecting my credit score.

Any help would be appreciated

[Deleted User]

If your credit history is good, then you stand a reasonable chance. But it's impossible to say whether you'll fit their precise criteria.

One extra search also wouldn't be the end of the world.

And remember to ignore your credit score.

DCFC79

SteveyJC wrote: »

How likely is it I will get the 3.2%? My fear is applying, getting offered a stupid %APR then have to apply elsewhere and affecting my credit score.

Any help would be appreciated

Apply for the loan and see what rate you get ?

Cliecost

I was coming on here to ask the exact same question.

My file is good. Zopa say they give good rates. They did a soft search (so as to not affect my file) and came back with 12.5%!!!

Obviously I didn't go with them but it makes me weary of applying for others especially as hardly any do the soft search (which they should all do).

SteveyJC

Thanks everyone for the replies. It's kind of a shot in the dark then to what % you get.

DCFC79

Cliecost wrote: »

I was coming on here to ask the exact same question.

My file is good. Zopa say they give good rates. They did a soft search (so as to not affect my file) and came back with 12.5%!!!

Obviously I didn't go with them but it makes me weary of applying for others especially as hardly any do the soft search (which they should all do).

Nationwide is 1 who do a soft search, you will have to Google for any others.

The 12.5% might be the best you can get. Maybe Zopa are strict because theyou are a p2p lender.