Hi all,
I recently phoned Tesco bank (for a mortgage) and asked to borrow what I thought was my maximum lending limit. I went through all my outgoings (I have very little as I have been saving for a deposit for a long time) - got to the end of the process and my request was refused. I dropped my request by 20K and it was refused again. I asked to drop it again and was told this was an abuse of the system and it was refused! I only wanted to know how much they would be willing to lend me!!
I gave the same information to nationwide and halifax and got a mortgage promise from both for the original higher amount and we didnt engage in guessing games, they each said we can lend you up to x amount - so it all worked out in the end.
Has anyone else had a similar issue with Tesco? I dont know why they couldnt just tell me what they were prepared to lend like the other banks rather then keep making me submit a random bid for cash!
It was literally a matter of "computer says no!"
KS :)
I recently phoned Tesco bank (for a mortgage) and asked to borrow what I thought was my maximum lending limit. I went through all my outgoings (I have very little as I have been saving for a deposit for a long time) - got to the end of the process and my request was refused. I dropped my request by 20K and it was refused again. I asked to drop it again and was told this was an abuse of the system and it was refused! I only wanted to know how much they would be willing to lend me!!
I gave the same information to nationwide and halifax and got a mortgage promise from both for the original higher amount and we didnt engage in guessing games, they each said we can lend you up to x amount - so it all worked out in the end.
Has anyone else had a similar issue with Tesco? I dont know why they couldnt just tell me what they were prepared to lend like the other banks rather then keep making me submit a random bid for cash!
It was literally a matter of "computer says no!"
KS :)