Looking for advice on applying for a personal loan

cjmcdougall

Hi,

So, I've just landed my dream job after studying for 5 years and in order to make the move to start the job its looking like I'm going to have to apply for a personal loan to help with new flat deposit and first months rent etc. I did have some savings to help with this but they've now dwindeled down to pretty much nothing due to working on a zero hours contract for the last six months :-(

The main thing I'm not sure about when applying for the loan is the employment details part of the application. As I've accepted this new job (which pays much more than my current job), should I provide the details for my new employer and salary and how much of an effect will the fact that I haven't started the job yet (i.e. length of employment 0years 0months) have on the application?

I'm looking to apply for the loan with Hitachi Finance; does anyone have any experience with this company that they would like to share before I go ahead and make the application?

Thanks :-)

[Deleted User]

You're not going to be accepted for a loan without being in employment - which you're not. And even then, they would typically want to see several months in the role at least.

Will your new employer help with relocation, or an advance?

Candyapple

Do you have an overdraft with your bank? It might be easier to see if you can extend/apply for one.

Do you have any credit cards with large limits? Look to see if any of them offer money transfers for existing customers e.g Halifax, Barclaycard.

Do you have anything you can sell to make up the shortfall?

Are you moving to an entirely different part of the country or something? If so, you could ask your new employer to help with relocation costs.

Can you not stick it out where you currently live and travel to your new job until you can actually afford to move?

What about asking your family for a short term loan?

ThomasChaney

I am also looking for some personal loan for myself. Can anyone please enlighten me with some information.

foxy-stoat

ThomasChaney wrote: »

I am also looking for some personal loan for myself. Can anyone please enlighten me with some information.

Arrr yes, personal loan is unsecured lending. You agree a sum to borrow with the lender, they give you an interest rate and a fixed monthly payment for you to sign up to.


BOOM !!!

DCFC79

cjmcdougall wrote: »

Hi,

So, I've just landed my dream job after studying for 5 years and in order to make the move to start the job its looking like I'm going to have to apply for a personal loan to help with new flat deposit and first months rent etc. I did have some savings to help with this but they've now dwindeled down to pretty much nothing due to working on a zero hours contract for the last six months :-(

The main thing I'm not sure about when applying for the loan is the employment details part of the application. As I've accepted this new job (which pays much more than my current job), should I provide the details for my new employer and salary and how much of an effect will the fact that I haven't started the job yet (i.e. length of employment 0years 0months) have on the application?

I'm looking to apply for the loan with Hitachi Finance; does anyone have any experience with this company that they would like to share before I go ahead and make the application?

Thanks :-)

Nothing wrong with Hitachi Finance, they are legit if thats what your asking, its the tv set maker just branching out into finance or maybe they lent the name to someone else to do the finance.

Its a bit risky if the job doesnt work out and your lumbered with a loan and no job.

DCFC79

ThomasChaney wrote: »

I am also looking for some personal loan for myself. Can anyone please enlighten me with some information.

Which information would you like ?

Pick a lender and apply for a loan Thomas.

foxy-stoat

cjmcdougall wrote: »

I'm looking to apply for the loan with Hitachi Finance; does anyone have any experience with this company that they would like to share before I go ahead and make the application?

I have a 6 figure mortgage, reasonable salary, never missed payments on my credit cards or other loans, applied for £1000 loan to buy a ring at a jewellery shop using Hitachi Finance - got declined.


Does it help much with your situation?




I thought not !

zippygeorgeandben

I used Hitachi Finance for a treadmill purchase (don't ask) and they were fine. They allowed me to overpay as well in the T&Cs which was handy.
People want to know normally though what these companies are like once you struggle to make a payment so I cannot advise with that.
Huge congratulations though with the dream job.

enthusiasticsaver

Can you not go into a shared house initially which is much cheaper until you have saved up enough to pay for a flat deposit?