I applied for a loan today, to 3 different banks. Sainsburys, Tesco and Alliance and leicester. It was for £8k but they all said no! They told me to check my credit report so i have signed into experian to check this. It all looks fine. All credit accts are green wth no late payments. I dont have any outstanding debt as i just paid my car loan off. The report is up to date and says i have 0 debt. I just cant understand why they said no… On the report it says available credit is 0 because i currently have no credit cards etc. surely this is good though? no debts and no negative history = low risk customer?? I’ve not had much credit in the past and my report reflects this, there is my bank acct, in good order and my car loan which was 14k also paid on time without problem and now satisfied… maybe the banks just wont lend to tenants but their adverts say differently…

I went in to my bank for a loan, and the sales-person tried to sell me ‘benefits’ of their loan over other banks (I’d seen Northern Rock seem to be the cheapest) I always thought that cheapest was best, but does anyone know of what sort of features I might find useful, and is it worth paying extra? (I think my quote was 8.3% which seems substantially more than Northern Rock.) Thanks for your help!