Would I be accepted for this Tesco Loan?

realitybet

I have a 'good' credit rating both with the agencies and my bank. My Bank are HSBC. I have a £1500 overdraft and credit card with £3500 on it. I want to pay settle (and then close the card and cancel overdaft) both of these. Also want to borrow some extra for deposit and rent on flat and new furniture. Total I want to borrow is £8000, ideally over 10 years!

Problem is HSBC only do 5 year personal loans! So don't want to go with them...also no payment break option!

Tesco have a Quick assessment calculator on their website. They said I would be declined based on my salary and the fact I have the over-draft and credit card. But it does accept me if I take away the overdraft and credit card. Given the fact I would be paying off my card and canceling my overdraft facility with the actual Loan, would they take this into account? I don't want to apply if they are going to reject me and leave a nasty trace on my file!

Thanks for any advise!

CLAPTON

you don't say what you income or expenses are but it sounds as if you have very little money... Frankly getting a loan for these purposes over 10 years is absurd.
You would be better reviewing your lifestyle and income and spending and find some more money to pay off the OD and credit card... maybe parttime job or overtime