Personal loan procedure and specific advice

sociable7

Advice on taking a personal loan

I've used mse credit club and its great! It says I can get a loan at 95% chance. I want to apply. But..

I live with my parents.. For last 10 years. But also bought a home.. That I don't live in. When they ask for my address... Which one do I need to use. I've noticed my parents address yields better credit score. At a later stage will they highlight that I have a mortgage on a house so homeowner and why isn't that listed? What about landlords then with multiple properties.

Im also changing jobs soon.. Do they need to know this. Do they ask for payslips like on a mortgage. My credit score is at 964. The benefit of new job is higher salary by £7k but I wouldn't have it for 3 months. Plus I need the mortgage before I start..

I can sort out Id and bank statements.

I did the soft search again with the company and they said yes.. Just need to do full application but I am using my parents address and put living with parents. Because its the truth.

Also anyone taken a personal loan.. What's the process

PeacefulWaters

Just answer all questions honestly.

[Deleted User]

sociable7 wrote: »

Also anyone taken a personal loan.. What's the process

You choose a lender and fill out their application. They then accept or decline you.

Your credit score plays no role in applying or acceptance.

robber2

Just remember that you may be one of the 5% that get rejected.
Don't take it personally if this happens to you.

Rob

DCFC79

PeacefulWaters wrote: »

Just answer all questions honestly.

Do this, your new job in 3 months time is irrelevant, you put down your salary based on your current salary.

sociable7

Deleted_User wrote: »

You choose a lender and fill out their application. They then accept or decline you.

Your credit score plays no role in applying or acceptance.

Sorry but are you sure? It obviously uses a credit check. Otherwise they are bonkers. You're as deluded as the person who said just answer honestly. Clearly out of touch with real life and real circumstances.

sociable7

The point is.. If I put forward a true application then later they may say sorry but you're a homeowner why didn't you declare this. My response will be although I am, the form asks about where I live and I live at my parents address. But by this point they would have rejected it and there's no second application. So I would have rather put my own property down.

If you don't have personal experience then do not reply. I don't need an ethical lesson or unpractical advice.

My new job is in a couple of weeks but I imagine they will ask for last three months which means I need to be working with them for three months. Keep up love.

PeacefulWaters

You're as deluded as the person who said just answer honestly. Clearly out of touch with real life and real circumstances

Well that's me out.

Arrogant fool.

[Deleted User]

sociable7 wrote: »

Sorry but are you sure? It obviously uses a credit check. Otherwise they are bonkers.

Of course they do a credit check. Who said they didn't?

What they don't use is your credit score, which oddly enough, is exactly what I said.

DCFC79

sociable7 wrote: »

The point is.. If I put forward a true application then later they may say sorry but you're a homeowner why didn't you declare this. My response will be although I am, the form asks about where I live and I live at my parents address. But by this point they would have rejected it and there's no second application. So I would have rather put my own property down.

If you don't have personal experience then do not reply. I don't need an ethical lesson or unpractical advice.

My new job is in a couple of weeks but I imagine they will ask for last three months which means I need to be working with them for three months. Keep up love.

Your first post didnt say you were starting in a couple of weeks.

You said " The benefit of new job is higher salary by £7k but I wouldn't have it for 3 months" I took that to mean you wouldn't be starting the new job for 3 months.

Posters are trying help but you need to wind your neck in. With this tone I can see you pi55ing posters off.

sociable7

Deleted_User wrote: »

Of course they do a credit check. Who said they didn't?

What they don't use is your credit score, which oddly enough, is exactly what I said.

The lender in question uses experian. Experian build your credit score based on your credit history/situation. So it gives a good indication of what your finances are like. If they say excellent, it's unlikely another system will say extremely poor.

Deleted_User wrote: »

You said " The benefit of new job is higher salary by £7k but I wouldn't have it for 3 months" I took that to mean you wouldn't be starting the new job for 3 months.

Posters are trying help but you need to wind your neck in. With this tone I can see you pi55ing posters off.

As in I wouldn't be employed for three months. Well posters shouldn't just post to get a kudos or badge!