Loan companies clamping down?

burnsy89

I need to apply for a personal loan for some home renovations. I have a default that drops off on Friday (an old telecommunications dispute that didn't go my way). My score on Experian is 946 even with the default but I'm not taking any chances so I'm waiting until the default is no longer on my report to apply. My Equifax score isn't quite as high it is still at 441/700 but it should shoot up once the default drops off. 
I've heard most lenders are being prudent with their lending and I was just wondering if there are any lenders in particular who seem to be lending more than others right now? I don't want to risk my score taking a hit with multiple hard searches so just doing a bit of due diligence before I decide who to apply with. Any market insight on this would be appreciated  

[Deleted User]

Your score isn't a factor in lending. It will generally drop when your default comes off, as it's a significant change, which illustrates why it's not used.

Use an eligibility checker and make one or two well placed applications.

jonesMUFCforever

The Cra's only update their records monthly - so wait until it has dropped off before applying for any new credit.

macman

The scores are fictitious figures that lenders can't even see. What matters is your credit history.

DCFC79

burnsy89 said:

I need to apply for a personal loan for some home renovations. I have a default that drops off on Friday (an old telecommunications dispute that didn't go my way). My score on Experian is 946 even with the default but I'm not taking any chances so I'm waiting until the default is no longer on my report to apply. My Equifax score isn't quite as high it is still at 441/700 but it should shoot up once the default drops off. 
I've heard most lenders are being prudent with their lending and I was just wondering if there are any lenders in particular who seem to be lending more than others right now? I don't want to risk my score taking a hit with multiple hard searches so just doing a bit of due diligence before I decide who to apply with. Any market insight on this would be appreciated  

Does the fact Experian and Equifax rate you differently not tell tou the scores mean complete nothing ?
As above apply when the defaults drop off.

How much are you wanting to borrow ?
How much do you earn ?

Nebulous2

Companies have to balance a desire to lend with their attitude to risk. I'm still occasionally getting adverts from banks offering personal loans with very low headline rates, so there are lenders out there looking for business.

I'd check out your own bank first. They'll have more data on you and will have an idea as to whether they would lend to you. They may also have an eligibility checker you could try without a hard search.,

Ebe_Scrooge

burnsy89 said:

I need would like to apply for a personal loan for some home renovations.

Fixed that for you. 

cymruchris

Your score won’t shoot up - not that it means much anyway as has been pointed out. When my bankruptcy dropped off - my score went down. When I had a ccj set aside - my score went down. Not that you should pay too much attention to the score anyway - once the default has gone from your files - that’s the time to apply, but is now the time to really apply?  Are the renovations urgent and life threatening or could they hold off ? Are they nice to haves or is the property falling down and the roof leaking?