Northern Rock Loans

bluenoze22

Hi all,

This is my 1st post and i hope i am putting this in the right place!

I currently have a loan with NR and am in need of increasing it by a few grand. I was wondering if anyone knows or has has experienced anything different with rates or their decision process since all the crisis has happened!?

Cheers

Matt

Rafter

Matt,

Northern Rock are currently borrowing an awful lot of money at a high rate from the UK Treasury via the Bank of England.

As such their ability to lend at good rates is fairly limited.

You might find they would charge you a higher rate of interest on your new larger loan than you are currently paying.

My suggestion, if you credit rating is good is to apply to get the money you need elsewhere.

R.

_Andy_

Hi Matt
You can't 'increase' the loan as such - you'd need to either 1) take a new loan for the extra (thus having two loans running) or 2) Take a new loan for the entire amount - and NR's loan rates are pretty lame these days.

Cheers

bluenoze22

Thanks gents!

My credit rating aint great luckily enough my dads is and he's been a legend and has took a loan out for me! Im now tryin to sort my credit rating.. i got my report and it shows i have 9 accounts on my file of which i think 2 are active is there any way in which i can get the company to take them off? I know if says 6 years but do any take them off quicker?

Cheers

_Andy_

bluenoze22 wrote: »

Thanks gents!

My credit rating aint great luckily enough my dads is and he's been a legend and has took a loan out for me! Im now tryin to sort my credit rating.. i got my report and it shows i have 9 accounts on my file of which i think 2 are active is there any way in which i can get the company to take them off? I know if says 6 years but do any take them off quicker?

Cheers

No unfortunately that isn't possible. Information is on your credit file to provide lenders with factual information about how you have conducted your lending.