Halifax Online Loan - "Personalised Quote"

theone999

Hi I got an offer from Halifax when I logged into my bank account. It basically said I could be eligible for a personal loan and there wouldn't be a credit check to get a quote because I was already a Halifax member?

How does the Halifax Online Loan thing work? If I fill out the "how much" and "over how long" boxes and press "quote", if I get a quote, does that mean I would be automatically approved for that if I wanted to proceed?

What other information do I need to provide aside having been a Halifax bank account / credit card holder for several years for a loan to be approved?

I've never took out a personal loan from a bank before, so do I need to give wage slips like for a mortage and provide employment details? (I am employed, just self employed in current job for less than 1 year so will not have HMRC tax return)

Basically if I'm guaranteed to get a loan, I will go ahead and get it. If I've ever learnt anything since I became an adult, it's that if someone offers you the chance to borrow money, take it or you might lose the chance. I got my credit card this way some years back, Halifax just straight up said, we can give you one. and I said , yes please.

tempus_fugit

Do you need a loan for something specific?

Puddylove

That's just a marketing thing together to apply - you are no more guaranteed a loan than anyone else, but as a Halifax customer, they will be able to accept/reject you faster as they have more information about you, readily available. They will also run credit checks. Having said that I got a loan very quickly (took about 10 mins if I remember correctly.

BUT - only an idjit would take a loan they had no need/purpose for, just so they could donate some of their hard earned cash to the bank by paying interest.

Consider this a virtual slap. :rotfl:

KJSmith

The quote doesn't mean the loan is guaranteed. But it does mean that if the loan was accepted it would be on the quoted terms (unlike some lenders who won't reveal the interest rate until you've submitted an application and credit checks have been run).

theone999

Puddylove wrote: »

That's just a marketing thing together to apply - you are no more guaranteed a loan than anyone else, but as a Halifax customer, they will be able to accept/reject you faster as they have more information about you, readily available. They will also run credit checks. Having said that I got a loan very quickly (took about 10 mins if I remember correctly.

BUT - only an idjit would take a loan they had no need/purpose for, just so they could donate some of their hard earned cash to the bank by paying interest.

Consider this a virtual slap. :rotfl:

Do you still have to provide employment information and proof of earnings?

I need something like £11k for a full dental makeover so I can finally have the confidence to smile.

Puddylove

theone999 wrote: »

Do you still have to provide employment information and proof of earnings?

I need something like £11k for a full dental makeover so I can finally have the confidence to smile.

In my case, they didn't ask for proof of employment but they can see my pay being added to my account each month labelled with my employer's name. As you say you are self employed, they may ask you.

I have two suggestions for you - firstly, before applying for a loan, try saving the repayment amount into a separate account each month. If you can do this, you can probably afford it. And in fact, could save instead, and do the dental work in stages.

Secondly, try the soft search on here for loans - it might give you an indication of how likely banks are to give you one.