OneDirect Loans?

giftgrub

Shopping around for a personal loan at the moment...i've been looking at Onedirect...www.onedirect.ie their rates seem ok

has anyone had any dealings with them?

EKRIUQ

I got a personal loan from them lately, getting the loan was no problem couple of questions over the phone then had to post them ID documents and proof of mortgage and withinn a week I had my cheque

Although they quote rates from 7.75% but thats only if every part of their criteria is met as my loan was over €10,000 and I wanted to pay over 36 months my interest rate was 9.5% but I was happy with that. There is an administration fee of €72 on the first month payment which is a bit steep. Payment is through a direct debit which suites me.

Their great as you don't have to call into a branch and go through some form with the manager and its pretty descrete.

I would recomend them and use them again(I'll have to wait till most of this one is paid back first) but make sure you ask what their rate of interest is.

l3rian

http://www.askaboutmoney.com/clubman/BestBuys.htm#PERSONAL_LOANS

Read what the ~ means

One Direct will offer these rates to some credit worthy customers but will charge others up to 20%!

So, that low rate is only available for best credit ratings only, for example TIPPTOP there only got 9.5%, which isnt very competitive

Wrestlemania

I applied for a loan to them (GE Capital) is who they really are and did not get one.

I asked why gave me crap saying they can't say.

Checked the ICB.....No Problems had loans out from 99 to now all paid in full no arrears......mmmmmmmm


Only one loan outstanding on the report for 4 k which has 2 years left and no problems....

Stay away from them, believe it or believe it not the Likes of Ulster Bank and AIB would be better as it is clear and to the point. Otherwise a Credit Union.


I have a perfect credit rating yet they wont give me a loan hmmmmmmm

I am on quite a lot of money in a secure job owning my own house...I actually have the deeds and no mortgage....

Weird crowd.

Victor

Maybe your credit record isn't bad enough for them to crank up the charges.

Our man in Havana

Originally posted by Wrestlemania
I applied for a loan to them (GE Capital) is who they really are and did not get one.

I asked why gave me crap saying they can't say.

Ask them to give you all info they hold on you under the Data Protection Act 1988. They cant refuse to give you this. The info will say why they refused you.

Wrestlemania

Never thought of that good idea bond

I know one guy who has a perfect credit record but they said he was'nt in deby enough to get a mortgage....does that make sense ??

eth0_

Originally posted by Wrestlemania

I know one guy who has a perfect credit record but they said he was'nt in deby enough to get a mortgage....does that make sense ??

By 'perfect' do you mean he hasn't borrowed much?
Someone with 5 credit cards, 2 loans and a car loan and pays them all on time every month is more likely to get a mortgage than someone with little or no borrowing history

Even getting a few things on HP from dixons brings up your rating, even if they're only for a few hundred quid.

Wrestlemania

I'd say he has had 3 car loans in the last 5 years, has a gold credit car and had a personal loan. He tends to pay them off early.

He also got an ICB report and it was perfect.

Sometimes these things dont make sense

shoegirl

This is now quite a common practice in the UK, with Capital One and even mainstream lenders like Barclaycard offering differential rates based on the perceived risk of the borrower.

I am not sure where the financial regulator comes into play in terms of advertising, but I think it is actually illegal in Ireland to advertise an APR different from the one that is on offer, but I may be wrong. Its possible that a warning that this is the lowest rate available and not necessarily the one all borrowers will be offered. National Irish Bank have apparently started to offer credit cards at a higher rate to some customers (18.9 instead of 14.9% which even I have been given by them) but its early days yet. This represent a shift in the market where mainstream banks get involved with subprime lending (basically offering more expensive loans to higher risk borrowers), but don't separate their products (cheaper for the lender as they don't have to advertise several different products).

You have to remember that in a credit-saturated market you will get an increasingly high level of debt casualties - and removing the subprime market would close off credit for former defaulters. The morals are debatable - what is better ? To deny credit to people who have had problems in the past and may be living in different circumstances? Or to offer them credit at a higher rate? This raises the question of responsible lending and of course most people with a history of debt pay a premium when clearing off debts anyway, because of massive bank charges (interst and charges are frequently massively hiked, at a huge eventual profit to the lender - who actually can end up making much more out of weak borrowers than strong ones!)