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Ineligible for a loan (minor rant)

Discussion in 'General Discussion' started by bainbridge, 4 Nov 2021.

  1. HungryHippos

    Capodecina

    Joined: 25 Mar 2004

    Posts: 10,242

    Location: Fareham

    I think we've cracked it, OP didn't check credit file before applying, old loan probably still showing up. Nothing to see here I think!
     
  2. john_smith

    Gangster

    Joined: 19 Oct 2010

    Posts: 368

    Same here with Santander. 10 years with them, never missed any payments for anything in my life. Was told I couldn't afford their latest deal (cheaper thn my existing deal) so would move onto their SVR once my deal expired.
     
  3. BUDFORCE

    Mobster

    Joined: 3 May 2012

    Posts: 4,286

    You could complain about that also. I think you'd have a very good case by the lender not offering you a new product, they are putting you at financial detriment. Effectively making you a mortgage prisoner.

    Did you try to borrow more, or just like for like? If you were trying to borrow more that's different.


    I don't think people realise how strict FCA regulation is when it comes to this kind of thing.

    Lenders have to take this stuff seriously and there are strict guidelines they have to follow or they face large fines from the regulator.
     
  4. john_smith

    Gangster

    Joined: 19 Oct 2010

    Posts: 368

    It was three years ago. Just a deal renewal. I moved to a different lender.

    I still have my banking and credit card with Santander. If I’m ever in the branch and they offer me a mortgage I laugh.
     
  5. HungryHippos

    Capodecina

    Joined: 25 Mar 2004

    Posts: 10,242

    Location: Fareham

    Ask them if they can put you right onto the SVR to save the hassle doing so later? :D

    Nationwide denied me a debit card once that was weird, I went to HSBC and got one instead in the end.

    Got a mortgage with Nationwide in the end though.