Tsb loans

Yan101

Hi. Ill be looking for a loan in the near future and tsb has me matched the best through my credit club account at 80% acceptance. I have been on their site and completed the section which gives you you're personal loan rate, which is higher than their lowest available rate but that's to be expected. I was just wondering if that means I'm likely to be accepted for the loan? Or if this is just a rate you may get but could still be refused? Any info or experience appreciated. 

jonesMUFCforever

Until you actually apply you will not know if a) if will be accepted and b) if accepted at what rate.
Do you bank with TSB? 80% probable acceptance would not fill me with confidence.
If you bank elsewhere what do they say about lending to you?

sourcrates

Not a good time to be borrowing money with the current uncertain economic climate.

Lenders are being very carefull who gets accepted and who dosen`t.

Yan101

I bank with santander. Not been to them as id like to go in etc. 

I understand its not the best time etc, but I've just got a mortgage and I'm waiting to complete before I go for a loan. I need a new car for work. 

DCFC79

Yan101 said:

I bank with santander. Not been to them as id like to go in etc. 

I understand its not the best time etc, but I've just got a mortgage and I'm waiting to complete before I go for a loan. I need a new car for work. 

Only way to know is to apply and see what your offered.

cymruchris

Yan101 said:

I bank with santander. Not been to them as id like to go in etc. 

I understand its not the best time etc, but I've just got a mortgage and I'm waiting to complete before I go for a loan. I need a new car for work. 

Do you need a NEW car? or just a car to get you to work? What budget have you set yourself if you're getting a loan? Do you have any budget without a loan? Do you have an existing car?

Yan101

Yea I need one. It blew up on Friday 😭 it won't be new, around 4 years old and £10k ish. We both have loans with about 6k total left for both. And they arent on the best rates so would like to consolidate at a better rate as we took them out over 3 years and not great rates, we pay about £494 a month for both. If we consolidate and borrow 10k extra, it would drop the monthly payments to about £330 over 5 years according to tsbs personal rate that I ran. M and s was even lower rates too. But obviously I dont want to go applying willy nilly. Eligibilty calls are all well and good but I've had loans rejected before with 80% acceptance on mse's calc