Loan eligibility checker

roobobly

Can anyone advise why i would be showing as 0% chance of getting a loan on the eligibility checker? Have tried with mine and partners details. Both decent  earners,  excellent credit scores, low outgoing for mortgage.  All lenders show as 0%chance.  Thanks in  advance. 

yksi

The credit score doesn't mean anything because it's made up by the website that shows it to you, as a means to get you to purchase products to try to raise your made-up score. But it's often an indicator. Lots of things can be a deal-breaker for individual lenders, it means something in your credit history or account details is a no-go for that particular lender. This could be missing being on the electoral roll, too many address changes in the past few years or not enough trackable address history in the past few years, your current address doesn't match what your accounts are reporting to the CRA, a current account not open long enough or not existing, you have already had that card/card family in the past and they only allow one, your salary info is filled out in their system and you don't earn enough, you are already overcommitted on a mortgage, CC limits or other loan, CCJs, defaults, missed payments, late payments, arrangements to pay, Coronavirus loan repayment holiday of £1 showing up anywhere, you don't owe enough on other cards/loans, not having mobile phone contracts, and many more that we probably can't imagine.

I'd just like to say welcome to the club because although I occasionally get a 30% show up, I usually have a big row of 0% myself (in my case it's existing personal loan and loan holiday, I suspect).

roobobly

Thanka for the reply. Its quite frustrating., does 0% mean no chance of getting loan or 0% chance at the 2.8 rate? We have never missed any pymnts on anything, not even late. Less than 10k on a car finance is the only credit, lived at our house 13 yrs, ome before that 5.  Solid wmployment history, partner earns over 50k, me 40ish.both on electoral roll, have quite a bit of disposable income each month even after ober paying and saving.

yksi

A 0% means you have something in your details on that site (or in your credit history) which that lender does not accept at all. However as others have noted they are occasionally wrong. You can do "soft check" loan checks with whomever you like just to see what they say.