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  • FIRST POST
    • mansicklebobblebod
    • By mansicklebobblebod 6th Feb 18, 5:43 PM
    • 21Posts
    • 10Thanks
    mansicklebobblebod
    best time of day/month to apply for loan ?
    • #1
    • 6th Feb 18, 5:43 PM
    best time of day/month to apply for loan ? 6th Feb 18 at 5:43 PM
    Hi all,

    I am on the cusp of applying for a loan to fund a much needed kitchen replacement.Looking at 7,500 and I have good credit score.

    I'm just wondering if there is a best time of the month or even day to get the best rate or chance of acceptance.I know some companies have 'quotas' to fill and wondered if it were the same in the loan business.

    Thanks in advance - Rob
Page 1
    • BorisThomson
    • By BorisThomson 6th Feb 18, 5:58 PM
    • 1,516 Posts
    • 3,195 Thanks
    BorisThomson
    • #2
    • 6th Feb 18, 5:58 PM
    • #2
    • 6th Feb 18, 5:58 PM
    12.30pm on the 19th.
    • venison
    • By venison 6th Feb 18, 8:27 PM
    • 1,940 Posts
    • 2,072 Thanks
    venison
    • #3
    • 6th Feb 18, 8:27 PM
    • #3
    • 6th Feb 18, 8:27 PM
    I'm not aware there is a good time Rob.
    I am a BG on loans,credit cards and benefits I volunteer to help get your forum questions answered and keep the forum running smoothly". Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.
    • PeacefulWaters
    • By PeacefulWaters 7th Feb 18, 8:40 AM
    • 8,254 Posts
    • 10,527 Thanks
    PeacefulWaters
    • #4
    • 7th Feb 18, 8:40 AM
    • #4
    • 7th Feb 18, 8:40 AM
    Alas, if there are quotas to fill, nobody has ever worked out which companies these are or when there "fill your boots" window opens.

    More likely they just tweet the credit scoring system either way as and when needed. You'll just never know.
    • DCFC79
    • By DCFC79 7th Feb 18, 8:50 AM
    • 31,461 Posts
    • 19,866 Thanks
    DCFC79
    • #5
    • 7th Feb 18, 8:50 AM
    • #5
    • 7th Feb 18, 8:50 AM
    Hi all,

    I am on the cusp of applying for a loan to fund a much needed kitchen replacement.Looking at 7,500 and I have good credit score.

    I'm just wondering if there is a best time of the month or even day to get the best rate or chance of acceptance.I know some companies have 'quotas' to fill and wondered if it were the same in the loan business.

    Thanks in advance - Rob
    Originally posted by mansicklebobblebod
    Hi Rob

    There is no specific time but your credit isn't seen by anyone else other than you, penders see your history.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • TrustyOven
    • By TrustyOven 7th Feb 18, 11:25 AM
    • 685 Posts
    • 733 Thanks
    TrustyOven
    • #6
    • 7th Feb 18, 11:25 AM
    • #6
    • 7th Feb 18, 11:25 AM
    The best time is when you have the money saved up in your bank account, and don't need to take out a loan.
    Goals
    Save 12k in 2017 #016 (4212.06 / 10k) (42.12%)
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    • elle may
    • By elle may 8th Feb 18, 12:14 PM
    • 198 Posts
    • 101 Thanks
    elle may
    • #7
    • 8th Feb 18, 12:14 PM
    • #7
    • 8th Feb 18, 12:14 PM
    12.30pm on the 19th.
    Originally posted by BorisThomson
    HA HA! If life was that easy. Had to chuckle at that one.
    • pmartin86
    • By pmartin86 9th Feb 18, 9:03 AM
    • 511 Posts
    • 301 Thanks
    pmartin86
    • #8
    • 9th Feb 18, 9:03 AM
    • #8
    • 9th Feb 18, 9:03 AM
    12.30pm on the 19th.
    Originally posted by BorisThomson
    I've heard that between 10:00 and 11:30 on the 30th feb is 100% guranteed with the representive APR AND they don't persue you if you don't bother repaying.
    • zx81
    • By zx81 9th Feb 18, 7:08 PM
    • 16,444 Posts
    • 17,498 Thanks
    zx81
    • #9
    • 9th Feb 18, 7:08 PM
    • #9
    • 9th Feb 18, 7:08 PM
    This thread is turning into a post builder's paradise...
    • bazzyb
    • By bazzyb 9th Feb 18, 7:28 PM
    • 1,185 Posts
    • 3,273 Thanks
    bazzyb
    Twelvety..........
    • DCFC79
    • By DCFC79 9th Feb 18, 7:49 PM
    • 31,461 Posts
    • 19,866 Thanks
    DCFC79
    Hi Rob,
    I recon that you have a good credit score and thats all you need! Just focus on trying to convince the finance company that you are able to pay them back and will not default. I would choose a Monday morning for this where everyone come for work fresh after a break of a good weekend. Good Luck and I hope you will get your way through this!
    Originally posted by Caroline Parker
    Credit score isn't all you need Caroline unless you know of any lenders who lend based on the credit score.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • dealer wins
    • By dealer wins 9th Feb 18, 8:51 PM
    • 5,744 Posts
    • 10,885 Thanks
    dealer wins
    At Lloyds the credit assessment is all done automatically, and the decision would be the same all month.

    In all seriousness I doubt that any loan provider would change their decision depending on day/date/time of the month.
    Choose life
    • mansicklebobblebod
    • By mansicklebobblebod 10th Feb 18, 6:37 PM
    • 21 Posts
    • 10 Thanks
    mansicklebobblebod
    The best time is when you have the money saved up in your bank account, and don't need to take out a loan.
    Originally posted by TrustyOven
    Thanks TrustyOven...If only life were that easy!
    • mansicklebobblebod
    • By mansicklebobblebod 10th Feb 18, 6:39 PM
    • 21 Posts
    • 10 Thanks
    mansicklebobblebod
    Thanks for the replies on this everyone, including the witty ones
    • dealer wins
    • By dealer wins 10th Feb 18, 7:19 PM
    • 5,744 Posts
    • 10,885 Thanks
    dealer wins
    An OP with a sense of humour, well I never!!!
    Choose life
    • DCFC79
    • By DCFC79 10th Feb 18, 7:59 PM
    • 31,461 Posts
    • 19,866 Thanks
    DCFC79
    An OP with a sense of humour, well I never!!!
    Originally posted by dealer wins
    It makes a change.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
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