I got a loan!!!

karlos100

I posted a thread on here a few weeks back telling how id just paid off a loan of 16k 1 year early from my bank who ive been with 10 years. Now in my eyes that means im good with my money. All my bills and D/D's come out of my account with no problems ever.Since taking out my loan of 16k 4 years ago my basic wage has gone up from 18k basic to 25k basic with outgoings prob £150 a month more. i still get bonus' too so im doing ok. Now i thought my bank would fall over hand and foot to give me a loan of 7k to buy a new car.......NO. According to the letter they sent me my credit rating is good but im at the maximum borrowing limit? What limit? I have an overdraught yes but nothing else at all-no cards-no loans-no HP. This upset me because i though my god ill never get a loan with the current situation of this country. Anyway i bit my tongue and applied for an amazing rate loan from tesco's. Bang straight through no problems and 2% less apr than my bank. A very good rate over 4 years and im very pleased. So your loss HSBC and thank you TESCO!:beer:

robpw2

well done im pleased for you

karlos100

Im still confused as why my bank of many years and who overlook all my money affairs would not give me a loan of less than half the first one! I spoke to a friend and he says its probably a case of "computer says no!" and i should call them. I was going to but then thought-why should i? Why should i chase them to earn THEM money.

robpw2

i asked the same of my bank as i have been trying to upgrade to a current account for 10 years went into another banking institution managed to open an account straight away

CLAPTON

while I'm pleased for you that you got your loan, why having just paid off a 16k loan do you need a 7k loan?
Much better to start learning how to save up money and avoid interest charges.

shani38

HI could anyone help!
I took out a loan with Nemo Finance last year through Ocean, when I read through the Payment protection plan, I decided I needed to cancel, it was
worthless, my loan is 10 years and it only covered for 5 years. I put the document aside on my desk as my to do pile. I got side track and remember about 4 weeks later I needed to contact them to cancel. When I called,they told me I was 7 days to late (you got 30 days to cancel). I tried to argue this point and they said I could cancel but I would only get a proportion, thats £1600 out of 7,000, so I was stuck with a unless policy! and fogetting cost me dearly!! When, I visited Martin's site, I decided to challenge them again and wrote to them, Nemo has told me they gave me a the option to cancel but never took it and should read the policy, (my agruement is i had no choice but to stay and read the policy) they also told me to go back to my brokers Ocean Finance, I have now written to Ombusdman to complain.

Has anyone experienced a similar experience!! Any assistance would be much apprieciated.

karlos100

CLAPTON wrote: »

while I'm pleased for you that you got your loan, why having just paid off a 16k loan do you need a 7k loan?
Much better to start learning how to save up money and avoid interest charges.

The reason being i was paying £320 per month on my old loan. In the next few months im taking a business venture with a millionaire. this loan will be swallowed by the business loan i need which then judging by our business plan will be fully paid in 5 years. this loan was just to keep me on the road basically. i do see your logic but i need transport in the intrim which has to be reliable so i can travel to see my family regular on a round trip of approx 600 miles. hope this helps lol!:rotfl: