My first loan

doublejd

Looking for advice - I wish to borrow somewhere in the region of £4000 to be repayed over 5 years but have never applied for a loan before. I have never had a CC or store card, just use my debit card which i have through Nationwide (who i have been with since a baby), this account has an overdraft of £1500, and is at its limit at the end of every month. I am 27, am registered on the electoral roll at my parents house, but rent elsewhere (with no paperwork in my name, only my bank statement comes to this address in my name). Ideally repayments would be approx £100 pm.

What are the chances of me getting this loan? Any companies to recommend? Also, i would rather not get the post sent to my parents house with regards to the loan (to stop the nagging), what are the chances of this?

Thanks in advance for any advice............

colin13

dont really c a problem in getting a laon u r paying rent so ur credit savy and u must b paying gas electricetc as well at this address cant really recomend any companies y dont u look around the net for the best deal for u good luck

CLAPTON

if you are at the limit of your OD each month how will you repay the loan?

doublejd

Id repay the loan with the proceeds from what i am making with the money from the loan - i am opening a small business.

dannynixon

The bank may be heavy on PPI, especially if you tell them that you are going to pay them with the proceeds from your business. "What happens if your business goes buts? How will you pay?"

Don't take out PPI, it is useless, expensive and all they do is try and get out of paying if you do need to claim