From: "Mr Polzek" 
Newsgroups: uk.finance
Subject: Re: DIFFICULTY OBTAINING CREDIT - WEIRD AND ANNOYING
Date: Fri, 8 Jun 2007 13:09:45 +0100


"MrCheerful"  wrote in message 
news:I98ai.22889$hj5.10356@fe2.news.blueyonder.co.uk...
>
> "Mr Polzek"  wrote in message 
> news:vqqdnWX3WYwKHPXbRVnyigA@bt.com...
>>I have been trying to get 10k loan for a car recently, but unfortunately 
>>without any success.
>>
>> First of all, I tried with my own bank which is A+L. I have business 
>> account and personal account with them. First of all, I have been 
>> declined for business loan as I am not a home owner and this is against 
>> their policy. Fair enough, so I turned to personal banking with A+L. To 
>> my surprise, I was turned down again. That made me really upset. I phoned 
>> my local branch, they were not able to help. So I phoned the underwirters 
>> on the number provided on letter with bad news. They were not helpful at 
>> all as well. There was virtually no one to speak to about my personal 
>> circumstances.
>>
>> I tried two other providers, result the same. I am really annoyed. Why 
>> wouldn't they lend to someone making not so bad money (5k a month), 
>> without any arrears, defaults, CCJs, repayment difficulties etc.?!
>> I havce only 4k debt which is at 0% until November this year. My other 
>> friends earning half of what I do, or even one third of that, were given 
>> 10k and 15k by their banks without any problem. Well, I am self-employed, 
>> they are employees, that may be a difference. I have been here in the UK 
>> for over 3 years, they have for only one year.
>>
>> My question is, why am I being turned down? And by my own bank?
>> I really cannot understand it.
>>
>> I wrote a letter to them saying all the above etc., plus more points that 
>> I have. I simply said that if they don't give me the loan, I will switch 
>> my personal and business banking elsewhere.
>> Also mentioned I will take mortgage next year also elsewhere, but I 
>> planned with them. Also offered to pay off existing debt straightaway and 
>> lower loan request to 8k.
>>
>> Anyone has ideas of what may be going on? Or if my bank is going to treat 
>> my letter seriously?
>>
>> Maybe I miss or overlook something. Anyone could advise?
>>
>> Paul
>>
>
> If you earn so much, why not save up for a few months and buy without a 
> loan?  If I had 5k a month coming in then I could save 4k a month.  If 
> your figures don't add up, perhaps the bank realise this and regard you as 
> a high risk, especially if you are in rented property.

That's an option to save&buy but that's what the loan is about - to avoid 
waiting for something until you've saved for it.