i want to borrow £10000 for 5 yrs
2006-12-22 02:28:53 · 10 answers · asked by Clean heart 3 in Business & Finance ➔ Credit
hey barry, im a lending advisor for one of the major U.K retail banks....and yes it is possible for an unsecured loan. The decision process will be based upon the way that you have conducted business with regards to the account that you have and the level of money that flows in and out, and from this we have an estimated figure as to how much we believe that you can afford to pay back per month. If you ask for an amount in excess of this we usually refer the case onto an external dept...on the other hand if we are happy , and there is proven affordability then we would issue a loan. i hope that this helps you buddy, also if phoning tell them that you have had a quote from else where...has to be a realistic amount , of course, and the Apr that u may have been given! so if they tell you that the Apr with the loan from your bank was lets say 16.5% ..however before you were given 13.5% tell them that and the bank instead of losing business will lower the apr to meet your request. merry xmas everyone
2006-12-22 02:46:45 · answer #1 · answered by Anonymous · 1⤊ 0⤋
It doesn't matter if you dont have a full time job, although they like you to be in employment. Beacuse people who are disabled or retired might not work but they can still get a loan. As long as the bank can see that you can afford it then you're fine. For exapmle, if you earned £300 an hour, you wouldn't need to work 35 hours a week to get a loan from a bank......
2006-12-22 23:50:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes it is possible,if you have any other income like child tax etc they will take that into account,dependant on the conduct of your account/affordability once your bills are taken off and the bank i work for credit check every customer regardless of how long you have banked with them,i know Barclay's pre approve on how you have ran your acc,without a credit check-or they used to,a bank will only better another apr when the risk is worth it to them-i.e your a customer they dont want to lose,and they are sure you will make the repayments.good luck.Mbna do good rates and there customer service is great and no i dont work for them
2006-12-24 09:03:03 · answer #3 · answered by NATALIE W 3 · 0⤊ 0⤋
I do loans for a bank and I can tell you that we wouldn't do this - the only option is a co-signer who would agree to pay the loan back if you cannot.
2006-12-22 02:42:40 · answer #4 · answered by ginabgood1 5 · 1⤊ 0⤋
you might have a hard time seeing as how you don't have a full time job. if it is a personal loan...they usually won't let you take it for more than 4 years...which would bring you monthly payment up. depending on your credit history...it doesn't hurt to ask...but don't keep your hopes up
2006-12-22 02:32:36 · answer #5 · answered by hrt 2 · 0⤊ 0⤋
Is your credit score above 700 if yes then the answer is yes
2006-12-22 02:34:27 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It will be difficult, it depends what you earn when you are working and how often you work. If you are unemployed now, then you won't get one.
2006-12-22 02:31:55 · answer #7 · answered by beanie 5 · 0⤊ 0⤋
If you have financial resources to pay it back.
2006-12-22 02:45:51 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Doubt it. You have no way of paying it back.
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2006-12-22 02:36:08 · answer #9 · answered by tora911 4 · 1⤊ 0⤋
i doubt they will lend you that much as you arent in full time employment.
2006-12-22 02:30:26 · answer #10 · answered by Anonymous · 1⤊ 0⤋