Loans away from headline rate?

lazer-zxr

Hello forumites.

For all its worth, I've got 999 credit rating on Experian.

My bank is TSB and Halifax, and though both show 2.8% headline loan rates, when I do a personal loan offer, its coming out around 8.9%.

I'd like to secure cheaper finance for a £25k house renovation (I have no heating, kitchen or bathroom), borrowed over 12 or 24 months.

Any ideas:
a) why the offers are so far away from headline rte
b) who I can try that are offering nearer a headline rate?

Thanks for any comments in advance,

BoGoF

From your "For all its worth" comment seem to realise that your Experian 'score' is best ignored.


With regards the headline rate, only 51% have to get this for the lender to advertise the loan this way, which obviously leaves a lot of people who will not get it. What does your credit file actually show?


At the end of the day it is a large amount you are looking to borrow - did you mean to say pounds instead of euros?

lazer-zxr

Hi, yes I meant £GBP£ Pounds.

I've looked at my other bank accounts, and Nationwide are coming in at 4.9% over 15 months, that seems more acceptable.

I think there maybe two items on my credit file which could be a problem:

1) I dont have any loans or credit, apparantly this can be seen as negative.

2) I have recently moved house (8 weeks ago), hence my need to refurbish the house.

Thanks for the feedback though.