Bounceback Loan BBLS

Paulap1964

How do you find a lender if your bank doesn't support the BBLS. We bank with Nationwide who don't lend for this purpose. Every other lender will not lend to people who are not existing customers. I have been through everyone on the list. I can't believe your eligibility lies solely with who you bank with. I appreciate we are a little late to the party but we have tried so hard to manage up until now and this would just be such a help. Has anyone found a way around this? Thanks

dunstonh

We bank with Nationwide who don't lend for this purpose. 

It is always a problem when you breach the bank's T&C to run a business via a personal account and want something that is specific to business banking customers.  It is false economy to do this.

I can't believe your eligibility lies solely with who you bank with.

It doesn't.  However, the banks do not have the capacity to open new accounts.  Its an unforeseen side effect.

Has anyone found a way around this? 

Some of the banks have had periods when they will open up feeder accounts for non-customers (unless you are a limited company - which I suspect you are not as you were with Nationwide).  These windows when they do it seem to have closed with many.     Someone may pop along and answer based on the current position as I don't know.   However, when this is all over, get yourself on a proper business banking account.