Bank Of Ireland Loans..?

DCFC79

GTS_MAD said:

DCFC79 said:

Before you proceed check the forum for other posts re bank of Ireland or post office loans.

Yes this is my fear!!
I have seen a few posts and also seen the reviews on trust pilot.
I'm assuming that is what your referring to?

Yes the threads on here Im referring to.
I just find it poor form to treat customer like how they have been treated per the threads and trust pilot reviews.

[Deleted User]

GTS_MAD said:

Hi All,
I'm new here and after some advice if possible please...
I'm after a loan to consolidate other debts and for myself to get a new work van.

Carried out an eligibility check and only had one result due to the amount I think being £25k and over 7 years.
This was being offered by Bank of Ireland and at 3.2%.
I had a chance of being accepted of 95% and my credit score is excellent ......

My questions are....
1.
How accurate are these checkers as I worry I only have the one lender coming up and if I'm declined I didn't want a black mark aginest me to look elsewhere?

2.
When a lender looks at your credit file? Do they look at it live or what I can see on Experian for instance? Reason I ask is I have cleared more debt but it's yet to show on my latest credit monthly report?

Any help / advice would be fantastic, as the reviews for the Bank of Ireland are also very poor!!
So I'm very confused with what to do.

Thanks in advance

I envy you! I am getting zero per cent on eligibility checkers for them. Despite perfect credit history and 70K+ salary.

[Deleted User]

Lover_of_Lycra said:

GTS_MAD said:

Hi All,
I'm new here and after some advice if possible please...
I'm after a loan to consolidate other debts and for myself to get a new work van.

Carried out an eligibility check and only had one result due to the amount I think being £25k and over 7 years.
This was being offered by Bank of Ireland and at 3.2%.
I had a chance of being accepted of 95% and my credit score is excellent ......

My questions are....
1.
How accurate are these checkers as I worry I only have the one lender coming up and if I'm declined I didn't want a black mark aginest me to look elsewhere?

2.
When a lender looks at your credit file? Do they look at it live or what I can see on Experian for instance? Reason I ask is I have cleared more debt but it's yet to show on my latest credit monthly report?

Any help / advice would be fantastic, as the reviews for the Bank of Ireland are also very poor!!
So I'm very confused with what to do.

Thanks in advance

What is this black mark of which you speak?  All the happens when you apply for a loan is that a search is registered on your credit file, no more no less.  The search doesn't indicate whether you were successful, declined or decided not to go ahead with the loan just that a lender searched your credit file(s).

The lender will be looking at a different snapshot in time of your credit files, not score, than what you can see on Experian.  Please say you aren't paying to view your credit file on Experian.

The loan isn't being offered at 3.2% it's being advertised as having a representative APR of 3.2% which is the rate 51% of successful applicants will be offered.  If you are successful but are offered a higher rate there's nothing to say you have to continue with the application.

I don't put much stock in the eligibility checkers.  I've used eligibility checkers for credit cards in the past and even those from the lenders themselves that gave me a 95% chance straight up rejected me.  I don't have any skeletons on my credit files, earn good money but for whatever reason I just didn't fit their desired risk profile and until a full application is submitted along with a full, hard credit search all bets are off. C'est la vie.

And what's the problem with paying for Experian premium service? Have you tried it before you knocked it? Does come in handy depending on the individual and the circumstances.

[Deleted User]

Adams18 said:

Lover_of_Lycra said:

GTS_MAD said:

Hi All,
I'm new here and after some advice if possible please...
I'm after a loan to consolidate other debts and for myself to get a new work van.

Carried out an eligibility check and only had one result due to the amount I think being £25k and over 7 years.
This was being offered by Bank of Ireland and at 3.2%.
I had a chance of being accepted of 95% and my credit score is excellent ......

My questions are....
1.
How accurate are these checkers as I worry I only have the one lender coming up and if I'm declined I didn't want a black mark aginest me to look elsewhere?

2.
When a lender looks at your credit file? Do they look at it live or what I can see on Experian for instance? Reason I ask is I have cleared more debt but it's yet to show on my latest credit monthly report?

Any help / advice would be fantastic, as the reviews for the Bank of Ireland are also very poor!!
So I'm very confused with what to do.

Thanks in advance

What is this black mark of which you speak?  All the happens when you apply for a loan is that a search is registered on your credit file, no more no less.  The search doesn't indicate whether you were successful, declined or decided not to go ahead with the loan just that a lender searched your credit file(s).

The lender will be looking at a different snapshot in time of your credit files, not score, than what you can see on Experian.  Please say you aren't paying to view your credit file on Experian.

The loan isn't being offered at 3.2% it's being advertised as having a representative APR of 3.2% which is the rate 51% of successful applicants will be offered.  If you are successful but are offered a higher rate there's nothing to say you have to continue with the application.

I don't put much stock in the eligibility checkers.  I've used eligibility checkers for credit cards in the past and even those from the lenders themselves that gave me a 95% chance straight up rejected me.  I don't have any skeletons on my credit files, earn good money but for whatever reason I just didn't fit their desired risk profile and until a full application is submitted along with a full, hard credit search all bets are off. C'est la vie.

And what's the problem with paying for Experian premium service? Have you tried it before you knocked it? Does come in handy depending on the individual and the circumstances.

If you like wasting money on information you can get for free then knock yourself out but it’s not very MSE. Hang on, is this premium service one of the so-called experts you’ve been consulting according to your own thread? 😬