Personal Loan Advice/Change of Address Advice

jonboy_40

Hello all,

I was hoping you might be able to help me. My girlfriend is in the process of trying to get a £5,500 personal loan for a car purchase. She originally tried to get one for £5K with her building society (Nationwide) and this was approved. She then actually decided that she could do with an extra £500 and so phoned them the following day to see if she could increase her loan amount. They then rejected her for the larger loan amount on the grounds of affordability.

When she was rejected for the larger loan amount, she was told that if she put another person on the loan, she would have a better chance. However, when she added her Dad to the loan, they still rejected her as they queried why she was living with her parents and had a mortgage at a different address. (we only bought our flat a few months back and so the address she holds with Nationwide is still her parents'. Hence why she added her Dad as the second person).

So the question is really, is she likely to be able to get a personal loan elsewhere under our new address? She is registered here in terms of Council Tax, but I'm not sure if this is the same as being on the Electoral Roll here.

Any advice would be very welcome...

Dan:_4

jonboy_40 wrote: »

Hello all,

I was hoping you might be able to help me. My girlfriend is in the process of trying to get a £5,500 personal loan for a car purchase. She originally tried to get one for £5K with her building society (Nationwide) and this was approved. She then actually decided that she could do with an extra £500 and so phoned them the following day to see if she could increase her loan amount. They then rejected her for the larger loan amount on the grounds of affordability.

When she was rejected for the larger loan amount, she was told that if she put another person on the loan, she would have a better chance. However, when she added her Dad to the loan, they still rejected her as they queried why she was living with her parents and had a mortgage at a different address. (we only bought our flat a few months back and so the address she holds with Nationwide is still her parents'. Hence why she added her Dad as the second person).

So the question is really, is she likely to be able to get a personal loan elsewhere under our new address? She is registered here in terms of Council Tax, but I'm not sure if this is the same as being on the Electoral Roll here.

Any advice would be very welcome...

She should change her address with the nationwide first. Is this the address she put on the loan application?

jonboy_40

She used her parents' address on the application, as she hadn't changed her address with Nationwide. They advised that it would take a little while to do this when she phoned, which is why she kept the old address.