HSBC feeder account

Houndy191

I am like you I guess - I have a poor personal credit score. 

Danrover82

Talking to my accountant   he reckons a score should be too bad unless there's ccjs etc  
Was you a HSBC account holder? I'm hoping they look at the turnover of my personal account to get my feeder 😞

Houndy191

Just checked my Experian score and it is registered as "fair"

Danrover82

That's strange,    electrol roll,  many searches? lately?  Hsbc  customer? 

Houndy191

Also checked my Experian records for soft searches - none registered as being carried out by HSBC. 

Danrover82

That worries me then, I'm 100pts from fair, so think I can whistle for it 

Janethunter65

Danrover82 said:

That worries me then, I'm 100pts from fair, so think I can whistle for it 

Hi, I’ll let you know how I get on. Setting up a feeder account requires a hard search on your credit file - because it’s a new account. If you get a feeder account you then apply for the BBL and that’s only a soft search (it won’t affect your credit rating). My credit rating is classed as ‘good’ 

Danrover82

Janethunter65 said:

Danrover82 said:

That worries me then, I'm 100pts from fair, so think I can whistle for it 

Hi, I’ll let you know how I get on. Setting up a feeder account requires a hard search on your credit file - because it’s a new account. If you get a feeder account you then apply for the BBL and that’s only a soft search (it won’t affect your credit rating). My credit rating is classed as ‘good’ 

I've just read thermire Ts and Cs and it states they do a check with CRA based on affordability etc. 

Looks like I'm not getting a penny from the government in help for 10 weeks off. Whilst others abuse it and get 2 or 3 BBL 😔

The problem is no one will entertain you as a personal account holder if yoi don't show the money in and out ie Santander. So if HSBC turn me down which is likely. Then there isn't anywhere else to go

Danrover82

Houndy191 said:

Also checked my Experian records for soft searches - none registered as being carried out by HSBC. 

What sort of turnover do you have mate and what is it you do? 

What you gonna do now? 

There doesn't seem to be any logic behind it, but by HSBC doing a hard search is their underhanded way of credit scoring the loan! 

Houndy191

I am a controls engineer - director and sole employee of limited company - my turnover for July 2019 to Feb 2020 was 35K.
When all this started everything was good - negative £2000 in profit now. If I don't get loan will have to withdraw some of my pension.