Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Bank Loan

Options
  • 21-04-2012 5:07pm
    #1
    Muffinman1
    Registered Users Posts: 218 ✭✭


    Hey everyone,

    Was just asking for quick advise. I am currently a member of Bank of Ireland and have a loan with them. The loan is up April 2013 and 3 months ago I got the loan restructured as I wasn't working on full-time wage.
    I have been working on a FAS Internship Scheme. I recieve €238 per week and also €100 in expenses. However this comes to an end in 4 weeks and I have been promised full-time employment with company when scheme is up.
    So now I need a loan for a new car worth about €2500 as I was using my parents and getting lifts but now need my own transport ASAP. So when I applied to Bank of Ireland they rejected me as they said when I restructured last time there was a note attached saying no more loans until I repayed that loan.
    However now I want to open an account with AIB as they're in my town and more convenient. But was just wondering if I applied for a loan with them would they reject me.
    In my current loan, I have never missed a payment. I have a credit card which is rarely in credit as I repay what I have to within 2/3 days.
    But will that note BoI have on their system effect my credit rating. My employment have offered to write a letter for me confirming that I will be offered full-time employment in the next few weeks (starting mid-May) if required.

    Any help and advise is appreciated.


Comments

  • Options
    #2
    nlgbbbblth
    Closed Accounts Posts: 5,668 ✭✭✭nlgbbbblth


    BOI's "note" is an internal piece of information on your file. It cannot be shared with another institution or the Credit Bureau.


  • Options
    #3
    Muffinman1
    Registered Users Posts: 218 ✭✭Muffinman1


    Would that mean so I "should" be eligible for a loan. I know they may be hesitant until I'm in full time employment but besides that I do meet criteria. Also does it matter how long you have a current account before you can get a loan?

    Thanks for reply


  • Options
    #4
    nlgbbbblth
    Closed Accounts Posts: 5,668 ✭✭✭nlgbbbblth


    Muffinman1 wrote: »
    Would that mean so I "should" be eligible for a loan. I know they may be hesitant until I'm in full time employment but besides that I do meet criteria. Also does it matter how long you have a current account before you can get a loan?

    Thanks for reply

    There's no fixed period.

    The new bank will make an assessment based on:

    1) Financial information - income vs outgoings
    2) Account performance *

    * New customer so may ask to see BOI current account statements to see how you operate an account.


  • Options
    #5
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    Will you be on probation when you start? If you are they won't give you the loan as you could be let go once its up (or sooner). Even if your not on probation it's unlikely they will.


Advertisement