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I went to one of my lenders and clicked through their online banking just to see what loans they were offering and they said I had no offers. But on Money Supermarket the same lender is offering me a loan that says 100% pre-approved, provided you pass lender's checks.
Worth clicking through, or will it knacker my credit score? Loophole, or too good to be true? It's not the only offer.
provided you pass lender’s checks.
Looks like you failed?
It's weird at the moment, when buying a van the lowest interest lender said no. I checked my Experian score 992/1000 lol. Not I can score a great deal higher is it!
I’d be using something like Experian where their loan assessment is linked to your detailed credit score even though you can’t see the score unless you’re paying for it.
that says 100% pre-approved, provided you pass lender’s checks.
So, not 100% pre-approved then.
It’s weird at the moment, when buying a van the lowest interest lender said no. I checked my Experian score 992/1000 lol. Not I can score a great deal higher is it
They want people who can just about afford it but not quite. Not people who will default nor people who will quietly make their payments each month.
They low ball the interest and make money when you make late payments.
I went through Experian, they offered me the same deals but better rates 🙂
A lender will have an appetite to how much risk they want to place with someone. You can have a perfect credit score and be mortgaged up to the eyeballs whilst on minimum wage, and there's no hope of getting a loan. Likewise, if someone is already lending you £20k they would rather lend the next 20 to someone else to reduce risk.
Going though a couple of credit checks dints your record temporarily but not significantly (especially if you use one of those banks for your loan), without doing so you'll have no real idea how much you can borrow anyway
Clicked all the way through, on the last page it said 'something went wrong' and crapped out. Went back in, the good deals are all gone.. Bastards. Need to call them tomorrow. If their IT failure has screwed up my rep I'll be bloody annoyed.