Applying for a different loan to get a better (non typical) APR

edited 30 November -1 at 1:00AM in Loans
3 replies 468 views
ok_cok_c Forumite
29 Posts
edited 30 November -1 at 1:00AM in Loans
Hi,

I've applied for a loan with A&L/Moneyback, and I've been offered 9.9% (7.5k/5yrs).

If I were to apply to another bank to see if I can get offered a better APR, would it cause any problems with either application? And is there much point - i.e. Am I likely to be offered a better APR, or are they scored much in the same way?


Thanks :)

Replies

  • ok_c wrote: »
    Hi,


    If I were to apply to another bank to see if I can get offered a better APR, would it cause any problems with either application?

    Unlikely unless you've had loads of searches recently.
    And is there much point - i.e. Am I likely to be offered a better APR, or are they scored much in the same way?


    Thanks :)

    Impossible to say as there's so many different deals available and we know nothing about your situation.
  • ok_cok_c Forumite
    29 Posts
    _Andy_ wrote: »
    Unlikely unless you've had loads of searches recently.



    Impossible to say as there's so many different deals available and we know nothing about your situation.

    Thanks for the reply. I've not had any seaches since early november, which was a loan that I was accepted for but declined the offer in the end.

    I should have a pretty clean credit rating, no missed payements or anything (ever). Although my mortgage is pretty high for my salary (95k mortgage/ 25k pa), and I've £1.5k on a CC which'll be paid off soonish.


    Thanks again
  • i work 4 barclays and in my exp we all read from the same song sheet as loan offers are promotional apr's are offerred subject 2 status so u may find that you get the same answers for lots of credi searches that doesn't do u any good
    Loan-£3600 only 24 months of payments to go!!!
    All debt consolodated and cards destroyed!!
    As D'Ream would sing 'Things.....can only get better'!!!
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