Personal loan £20k <3%

philstanbridge · 3 Feb 2020 at 13:01

We got £15k at 3% with the NatWest last week but we’ve been with them for years

ultralaser · 3 Feb 2020 at 19:10

philstanbridge said:
We got £15k at 3% with the NatWest last week but we’ve been with them for years

Yeah starting to get offered 2.9% from the Halifax at the moment but been with them for eons.

Energize · 5 Feb 2020 at 01:45

touch said:
1. Because people will lie about their circumstances to get the money.

But this is already covered under the fraud regulations...

There is really no good reason to withhold data which relates to the acceptance of loans and only serves to cost the potential client time and money.

dowie · 5 Feb 2020 at 01:49

Energize said:
But this is already covered under the fraud regulations...

There is really no good reason to withhold data which relates to the acceptance of loans and only serves to cost the potential client time and money.

There are plenty of good reasons... I mean what are you implying with that first line - that banks should just accept people and leave themselves open to fraud etc..?

They'd rather conduct credit checks... and part of that involves looking at loan applications too, not just existing credit.

Energize · 5 Feb 2020 at 02:01

dowie said:
There are plenty of good reasons... I mean what are you implying with that first line - that banks should just accept people and leave themselves open to fraud etc..?

They'd rather conduct credit checks... and part of that involves looking at loan applications too, not just existing credit.

What sort of logic is this?

Of course banks should be able to carry out credit checks, but the acceptance criteria should be published as to prevent false advertisements offering loans for x% and then rejecting applications on a whim.

dowie · 5 Feb 2020 at 02:05

Energize said:
What sort of logic is this?

Of course banks should be able to carry out credit checks, but the acceptance criteria should be published as to prevent false advertisements offering loans for x% and then rejecting applications on a whim.

They're not false advertisements and they're not rejected on a whim. As for whether you'll be accepted that is down in part to the credit check they run on you and not necessarily some simple rules they can simple publish to let you know in advance.