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Declined after incorrect DOB

jordanlong44
Posts: 1 Newbie
in Loans
Hi, just looking for some advice/thoughts. Last night I applied for a small loan to help with home improvements. My laptop auto filled in my address and date of birth etc. I only realised after the application was submitted that my date of birth was incorrect. It was so slight I didn’t even pick up on it when reviewing. The loan was approved in principle but when I rang the bank this morning they cancelled it obviously. They told me to reapply, which I did, but now I’m being declined. I don’t understand how. I have a great credit score. Could it be the cancelled loan going against me? When and how should I go about reapplying? Anyone have any experience in this?
TIA
0
Comments
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The onus is on you to make sure the details you submit on an application are correct, so the company was right to cancel the first application. The second application was likely cancelled as multiple credit searches in rapid succession can signify to lenders that you are desperate for credit, and hence potentially more risky. Don't apply for a third loan as this will only exacerbate the issue. In my mind there's not much you can really do other then appealing the rejection (unlikely to work, but possible) or waiting a few months before applying again.0
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