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Is it that bad out there???
Does anyone have any idea of what is going on??? Is it that bad out there???
Hi. Firstly, thanks to everyone who offered advice. I really appreciate it. I went into my local Credit Union this morning and asked for a loan for 60K over 10 years. I lodged 25k into my Credit Union account to make it more attractive for them to do it. (I think they loan up to five times what's in your account.)
I'd have thought 5 x savings was unusual?
Sorry WaterSprite,
I forgot some of your questions:
The length of time with the Credit Union for the application to be successful was just a day. I went in on Saturday morning and got a telephone call Saturday evening. The members meet on Saturday evening and approve things. It seems that the guy I talked to at the window summarised my situation and then went to some Decision Maker there and got the ok before the members met. They were very good to do it for me as he knew I was anxious to know before the bank holiday weekend. I submitted photocopies of all the paperwork NIB had asked us to furnish for the loan approval in December. After being refused by NIB I instructed the manager there to photocopy all of my file so that I would have it for other applications. I also put 3 months of salary statements and bank statements with it. They will want to see the usual stuff you need to submit for a mortgage. They were fantastic. I hope this addresses your questions and good luck with that.
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