Natwest loan calculator

looloo12

Hi everyone, I'm hoping that one of you clever folks can help me!

I'm a natwest current account holder and I'm hoping to get one of their loans to consolidate credit card debts.

I'm using their loan calculator but on my first try it said it was unlikely to be offered a loan (admittedly, I entered a large loan amount with the view to add my husband's cards and overdrafts into the loan as well)

The calculator says:

"There's no impact on your credit rating
Our quick quote tool won’t affect your credit rating in any way.
It just leaves a short term note on your credit file that only you can see: not us, no other lenders, only you. "

I'm nervous to try it again though in case this could be having a negative effect on me or my chances of being approved? Does anyone have any advice? Is it ok to continue trying to see at which level I would be accepted or could this go against me in some way?

Many thanks for any help you can give!

[Deleted User]

Go and see someone in your local branch would be my advice

jde91

I wouldn't waste your time going into branch, speak to someone on live chat about it

DCFC79

looloo12 wrote: »

Hi everyone, I'm hoping that one of you clever folks can help me!

I'm a natwest current account holder and I'm hoping to get one of their loans to consolidate credit card debts.

I'm using their loan calculator but on my first try it said it was unlikely to be offered a loan (admittedly, I entered a large loan amount with the view to add my husband's cards and overdrafts into the loan as well)

The calculator says:

"There's no impact on your credit rating
Our quick quote tool won’t affect your credit rating in any way.
It just leaves a short term note on your credit file that only you can see: not us, no other lenders, only you. "

I'm nervous to try it again though in case this could be having a negative effect on me or my chances of being approved? Does anyone have any advice? Is it ok to continue trying to see at which level I would be accepted or could this go against me in some way?

Many thanks for any help you can give!

If you mean to try the calculator yes nothing wrong with trying it again.

You sure consolidation is the key, a loan will just extend the time you pay the loan. Why did the debts get built up, will they get built up again ?

foxy-stoat

What are the numbers, salary interest rates and balances?


Consolidating only addresses the symptom not the cause, doesn't always work and could land you in double the debt you started with.

Money_Rollercoaster

I don't think there is a benefit to being a Natwest customer when applying for a loan ... their rates never seem very good and in the 20 odd years I've banked with them, I can't recall once using them for a loan (and I've had a few in that time). By all means mess about with their tool and see what the rates and payments are like though, but compare with other lenders too using the MSE site and others ...


https://www.moneysavingexpert.com/eligibility/loans-calculator/


If your CC debts are from overspending and poor money management, you need to address those issues and start budgeting / managing your money more effectively, else (as has been suggested) the loan will not solve your problems long term and you'll be posting again with yet more CC debt and a loan to boot.


In 2005 I consolidated £5k of CC debt into a loan.
In 2010 I consolidated £10k of CC debt into a loan
In 2013/14, I had £17.6k+ of unsecured debt ...


This is a familiar pattern for many people ...