Loans

[Ordog]

@Peter_G

And I have to say I’ve lost the plot on what’s happening with loans (not in the market for one)!

They are being really cautious and are assessing each person individually to see if they can offer them a loan.

I wouldn’t hold your breath though because it isn’t clear what their lending criteria is. EG

CCJ and STUDENT ACCOUNT

If it makes you feel any better my credit score is rated as ‘Excellent’ yet Monzo won’t give me a loan. They tell me it’s because they’re being super cautious about lending because it’s all new to them. I therefore went somewhere else and got accepted straight away. I’d therefore say… You shouldn’t assume everyone will deny you because Monzo have

CCJ and STUDENT ACCOUNT

Similar to me. Excellent credit score and history. I can get a £1,000 loan from Monzo, but not an overdraft

CCJ and STUDENT ACCOUNT

Other way round for me I have a £1,000 overdraft but they denied me a loan… even for a lesser amount