Will I get accepted

Frazer2306

Hi all,


This is my first time posting so please bare with me.


I am looking to get a loan for £6,500 to cover wedding expenses.


The future Mrs open next and new look accounts in my name last year which I have now shut down, my credit score took a big hit due to this.
So In May I got myself a Aqua card, which I pay off in full ever month to help build my score back up. I also pay off £30 towards my sofa in which I have done for the past year now.


My Experian score is currently in "Fair" and I have never missed a payment in my life. Experian is telling me that I have 70% chance of being accepted for the loan I need from Natwest as I am a Natwest customer.


Does anyone know whether I will get accepted or not...?

tykesi

How on earth will strangers on the internet "know" whether you will be accepted or not?

Pixie5740

Will you be applying to Experian for a loan?

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

Frazer2306

tykesi wrote: »

How on earth will strangers on the internet "know" whether you will be accepted or not?

Someone might of had a similar experience to me or been in the same situation.


Ok, the last bit was badly worded.....

DCFC79

Dont focus on your scoee as lenders dont see it, they see your history which is your history of making payments, if any were late, on time etc.

Do you really want to start married life with a debt. Is there any way you can spend less.

DCFC79

Frazer2306 wrote: »

Someone might of had a similar experience to me or been in the same situation.


Ok, the last bit was badly worded.....

Each persons financial circumstances will be different.

Theres 2 other agencies who lenders report too, Experian is the 1 mostly used.

Google credit reports and the first 2 non ad links are what you need.

KoshB5

Until you go through a formal application and the associated credit risk and affordability checks, which are based on your personal circumstances and nobody else's you will not know. A lender looks at your income, outgoings and your credit history (not a CRA score), driven by their lending criteria.

Frazer2306

DCFC79 wrote: »

Each persons financial circumstances will be different.

Theres 2 other agencies who lenders report too, Experian is the 1 mostly used.

Google credit reports and the first 2 non ad links are what you need.

I check my credit report on Experian, Noddle & Clear score.

I've read through other forums on here about loans and different circumstances etc. Obviously its down to the individual, I just wanted to make a forum to get some help and advice on my situation.

Frazer2306

KoshB5 wrote: »

Until you go through a formal application and the associated credit risk and affordability checks, which are based on your personal circumstances and nobody else's you will not know. A lender looks at your income, outgoings and your credit history (not a CRA score), driven by their lending criteria.

I used the Natwest loan quote tool, in which it gave me my personal APR% and monthly repayment. Is this what you are referring to?

DCFC79

Frazer2306 wrote: »

I check my credit report on Experian, Noddle & Clear score.

I've read through other forums on here about loans and different circumstances etc. Obviously its down to the individual, I just wanted to make a forum to get some help and advice on my situation.

Find a lender who provides a soft search option, it doesn't leave an entry on your credit file.

Apply for a loan from a bank and see what they offer, don't make too many applications otherwise you will look desperate.

Loans start at a minimum of £7.5k or the best rates start at that amount.

Frazer2306

DCFC79 wrote: »

Find a lender who provides a soft search option, it doesn't leave an entry on your credit file.

Apply for a loan from a bank and see what they offer, don't make too many applications otherwise you will look desperate.

Loans start at a minimum of £7.5k or the best rates start at that amount.

I've been researching different companies for loans and carrying out soft searches. Natwest is the best/highest acceptance % due to the fact I am a Natwest customer.


I suppose it's just its my first ever loan I'm applying for. So I want as much positive information about me so I'm accepted.