Personal Loan is getting lower?

[Deleted User]

Nervas wrote: »

after I entered all details they requested copies of payslips and etc. for 12.6% interest, so looks like all those sites are just marketing tools, who tries to trick people in taking expensive loans.

Not quite. It's just that you're in the higher risk 49% of people who don't get the headline rate.

The change in the amount you may be able to borrow is simply down to changing lender criteria, as as well as your own circumstances.

OA234

That's a good suggestion. Checking all 3 credit files before you ask for / get a loan quote from a lender has been invaluable; in my experience.


Also, your internal credit score is critical. Have you previously borrowed off or paid off loans from Barclays Bank ?

tonyh66

if you apply for loans (and not take them) like the admiral one, the search shows up in your credit history, so if you apply for many loans in a short period of time you become less and less likely to be accepted, or accepted but at a higher rate. Possible answer to question.

Nervas

zx81, tOA234,tonyh66, thx for replays.

enthusiasticsaver

Maybe Barclays has met its lending target for the period you have applied in. Sometimes it is about their own priorities not just your circumstances. They may have changed their criteria too. Either of those reasons could be why you were offered £38k last year and only £10k this year.

Experian don't give loans so the score is irrelevant.

0% money transfer card would be cheaper of course.