hi just need to rant here for a min
graememk - 18/9/07 at 11:21 AM
arghghgh
i'm 30 years old, i have 8 morgages inc my shop and my own house others i rent out, all of which (apart from my house) are 3 months in advance,
i have 3 credit cards all of them are in good credit 2 are paid of every month the other one we use for extra things holidays etc and has low apr so
we pay it off over a longer period eg 3 or 4 months. i havent missed a payment on anything since i was 20 and skint.
i dont have any loans etc etc
yet got turned down for car finance this morning with Gmac, do you think it would be because on paper i look like i'm over commited ?
suppose i should of used northen rock lol
rant over, going to call the bank for some money.
v8kid - 18/9/07 at 11:23 AM
sometimes its nice to rant
coozer - 18/9/07 at 11:31 AM
I am reverse of you, I am over 40, have paid off the mortgage and have no other debt to speak of, (ex wife not included)
Despite the capital in my home when I applied for a loan to extend it the Northern rock turned me down flattly giving no reason.
I've been grumbling to the wife for a while to close the account and take our business else where.. she has finally seen the light after she
observed the line of people outside the local branch in Sunderland.
It seems there are different rules that I suspect are based on some underling factor. I reckon the first downfall when applying for such stuff is your
postcode.....
mookaloid - 18/9/07 at 11:33 AM
Might be worth checking that no adverse information has found its way on to your credit record by mistake.
You can check with the credit companies for a small fee I understand.
Cheers
mark
muzchap - 18/9/07 at 11:42 AM
I'd do what I did - get your credit report and see what it is affecting your score - you could have been identity cloned and have shed loads of
defaults from catalogues etc on your profile.
It's rubbish!
Also - the fact you are self-employed does count against you in a loan application. Anyway - with all your money why ya need a loan!!! 
M
saigonij - 18/9/07 at 11:49 AM
i applied for a load with Tescos once. I pride myself in having an good credit rating, and i am always honest. i told them all the places that i have
lived in the last 3 years. Because i was not on the electrol role ( how ever its spelt ) at one of the properties, they just refused me there and then
saying they were unable to confirm i lived there - this is dispite bank statements, water bills, and a letter about my council tax when i lived
there...
yet i bet if i was a state sponger with no fixed address they woudl dish it out quicker than you can say "we need a load from the bank of england
" - which actually takes a whie to say...
graememk - 18/9/07 at 11:49 AM
quote:
with all your money why ya need a loan!!!
M
all my money ha ha ha i'm skint, every time i save up money your mate paul takes it off me.
Dangle_kt - 18/9/07 at 12:25 PM
credit rating are funny things. I used to do them for a pretty big company and you'd be supprised - you dont get refused for no reason.
BUT some of the reasons are a bit odd, and you wouldn't think they would matter - but they do.
Things that knacker you straight away are things like:
Drivers licence not being registered with your current address
Not being on the voters roll if you ahve just moved house.
Bankrupcy
CCJ's
Occasional these are registered agianst the wrong persons in a house hold (especially if you share an initial with kids/parents)
worth checking all of them.
It could just have been down to affordabilty.
[Edited on 18/9/07 by Dangle_kt]
graememk - 18/9/07 at 12:47 PM
that might be it
Driving license is still at my parents house
no ccj's
not bankrupt
i'm on the voters roll
might of hit the nail on the head there, i've just applied for my credit repost so we'll see if theres anything dodgy on there.
Confused but excited. - 18/9/07 at 12:58 PM
I have found that what gives you the worst credit rating, is not having been in debt, because you have no track record of repayments.
It seems to be worse than having a CCJ.
Seems totally daft, until you look at it from a lenders point of view.
Dangle_kt - 18/9/07 at 01:19 PM
quote:
Originally posted by graememk
that might be it
Driving license is still at my parents house
no ccj's
not bankrupt
i'm on the voters roll
might of hit the nail on the head there, i've just applied for my credit repost so we'll see if theres anything dodgy on there.
I bet that will be it then.
It's a common problem and one of the main things checked. (its also illegal to not have it up to date btw...)
If it was me I would get it sorted then if you want, apply again next month - I wouldnt do it too soon as too many applications can count against you
- especially considering your prior commitments.
Hope I help your application mate 
- what is it your getting?
graememk - 18/9/07 at 01:30 PM
just filled in the forms to send off my driving liecense.
my brother works for vauxhall so i get a partners discount and was going to buy a 150 bhp diesel signum, with the black box on the ecu thats just
under 200 bhp.
also 0%....
mookaloid - 18/9/07 at 01:36 PM
quote:
Originally posted by graememk
also 0%....
Maybe they are not accepting anyone on that deal 
blakep82 - 18/9/07 at 05:19 PM
haven't read through other replies or anything so maybe already covered.
I work for RBS in the mortgage centre (not an underwriter or nowt though)
having lots of credit searches against your credit search can look unfavourable
did they say why it was declined? affordability maybe? in which case have you declared all you income? shop, tennants etc as well as all your regular
outgoings? example, if you haven't declared the credit cards, since you pay them off every month anyway, the underwirter may not be too happy
that you have not mentioned them. either that or there's money leaving your bank every month they can't really account for.
phone them and ask them why its declined. if for any reason they can't tell you, its most likely something on your credit ref. eg, at work,
we're allowed to say 'adverse data' but can't say what it is
hth
edit: driving license in the wrong address shouldn't cause a major problem, at worst they should ask for a credit card statement with correct
address, or utility bill, or bank statements
[Edited on 18/9/07 by blakep82]
Dangle_kt - 18/9/07 at 08:42 PM
quote:
Originally posted by blakep82
haven't read through other replies or anything so maybe already covered.
I work for RBS in the mortgage centre (not an underwriter or nowt though)
having lots of credit searches against your credit search can look unfavourable
did they say why it was declined? affordability maybe? in which case have you declared all you income? shop, tennants etc as well as all your regular
outgoings? example, if you haven't declared the credit cards, since you pay them off every month anyway, the underwirter may not be too happy
that you have not mentioned them. either that or there's money leaving your bank every month they can't really account for.
phone them and ask them why its declined. if for any reason they can't tell you, its most likely something on your credit ref. eg, at work,
we're allowed to say 'adverse data' but can't say what it is
hth
edit: driving license in the wrong address shouldn't cause a major problem, at worst they should ask for a credit card statement with correct
address, or utility bill, or bank statements
[Edited on 18/9/07 by blakep82]
Driving licence IS an issue, but I agree there are ways round it if the lender has the process in place.
about finding out the reason - we were never allowed to release any info.
It may be because your in a bank so you have security questions which can be asked to prove your speaking to the correct person, but if the car centre
doesn't have a process like this then they cant even say a check was carried out. (well they "could" but they can be sued under data
protection for realising personal info to someone they couldnt prove was the right person.)
suffice to say - if you ask and they tell you anything - they are breaking the rules to do so.