NW Loan application help

firewire1200

Hi,

I bank with Nationwide and over the past 3 months I have tried twice to obtain a loan with them.

Both times I go through the soft quote which gives me a APR for 3.6% then once I click on submit it immediately comes back and says no. I have checked the CRA's and they are not performing a search and when speaking to them they say I do not meet a lending criteria but won't say what it is.

I have a number of accounts with Nationwide all of which are in good standing,, my current account has a average daily balance of £1,400 and never overdrawn. credit card is clear each month so I am struggling to see what the issue is given that they are also not undertaking a search yet giving a very good apr on the soft quote, any ideas??

Pixie5740

Do you meet all of Nationwide's published eligibility criteria?

You must:

* Be aged 18 to 79
* Have a net monthly income of £700+. This can be a joint combined income if applying for a joint loan
live at the same address if applying for a joint loan
* Have the right to live and work in the UK for the term of the loan (Applications from the Channel Islands and Isle of Man are not accepted)
* Not have missed three or more credit commitments in the last 12 months
* Not currently be declared bankrupt, have a CCJ (County Court Judgement) against their name or be subject to an IVA (Individual Voluntary Arrangement)
* If self employed, be home owners, live in their property, and be able to prove a minimum of 1 year's income through an accountant or SA302 form.

I have banked with Nationwide for years, decades actually, and when I started contracting I was unable to get a personal loan from Nationwide because I failed on the last eligibility criteria on that list. It didn't matter how good my account management with Nationwide was or my credit history. I was self-employed and renting so it was an automatic no.

firewire1200

Just called NW and apparently they have a technical issue which means credit checks are not working so auto declining, got to ring them to try again this afternoon

Would have been easier if they had message saying don't apply right now due to a problem