Need £1000 Loan - Non-Home-Owner

Legacy_user
Legacy_user Posts: 0 Newbie
in Loans
Hi there,

I need a loan for £1000 obviously with the lowest possible Interest rate - payable say over 2 years or 24-30 months.

I have a 'bad' credit rating (2 defaults no CCj's) which has affected me getting Credit in the past. (can't have a switch card, on Solo :( ).

I'm only 24 and do not have my own home. I have a regualr income £14k a year.

From experience, do people on here think this would be possible and what companies would be willing to accept me?

Cheers :)

Comments

  • roadrash
    roadrash Posts: 90 Forumite
    Hi,
    I too am 24, though I earn £29,000, I also a 2 defaults..not that I remember them..but thats by the by..on my report it says I do have them!

    I have been accept for loans in the past with Egg, Northern Rock and HSBC.

    I would try Egg first, they are very accomodating and you cn pay the loan off early, take paymnet breaks etc.
    https://www.egg.com

    Cheers :D
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Thanks for the infor roadrash :) I'll give Egg a go

    On 29k at 24 eh? :o

    Just out of interest, how do these loan companies check your income? Do they check with your bank? Or Employer?
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    In a similar vein I am a 25 yr old non-home-owner in search of a loan. I earn 17.5k and need to borrow about 4k to consolidate my current debts (I am paying extortionate rates of interest on my credit/store cards)and put down a deposit on a flat (to rent). My credit rating is not brilliant - I was recently turned down by the Halifax for their 0% APR credit card and also by Capital One, but my boyfriend (who is a property owner) has kindly offered to act as guarantor in my next application. Does anyone have any good advice on who I could go to or if this is even viable? Would I be better getting a loan or a low-rate credit card? If push came to shove I would just borrow 1k for the deposit and make do with my other debts - but I HAVE to move out of the family home!!
  • FieryBlondeScot
    FieryBlondeScot Posts: 520 Forumite
    First Anniversary Combo Breaker First Post
    try Virgin (6.5%) i NEVER get accepted for anything.... credit cards, loans etc but they gave me a loan a few months back . interestingly i applied for the virgin credit card same day and got refused ! >:(
  • roadrash
    roadrash Posts: 90 Forumite
    Any luck with Egg SuperNova?? :D
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