ICB/Loan query

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fobs

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If someone had a mark against them ( 2-3 missed payments) on the ICB relating to a car loan from Woodchester going back almost five years what banks are more likely to give a loan (approx 40k) other than AIB. THe mark will be cleared from the person's record by 6th of November as the debt will have been cleared five years by then.
 
Anything useful here? Would it not be best to wait until the black mark "falls off" the ICB records in November?
 
This person wants to go to the mainstream banks if possible and cannot wait until november. It is a business loan to fund the purchase of a truck (approx 40k) to take up a contract worth in excess of 150,000 per year.

This person has successsfully gotten a mortgage with First Active (2 years ago) and this was not mentioned at that time with them.
 
fobs said:
This person wants to go to the mainstream banks if possible and cannot wait until november. It is a business loan to fund the purchase of a truck (approx 40k) to take up a contract worth in excess of 150,000 per year.

This person has successsfully gotten a mortgage with First Active (2 years ago) and this was not mentioned at that time with them.
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sound like he won't have a problem then.... if worst come to worst I am sure he has equity in the house to secure it on....
 
He has at least 100,000 - 150,000 equity in his house alright. He will probably go to his local credit union and get his loan there and when the next 2 months are up apply to one of the major banks.
 
just to let you know he got the loan with LOmbard and Ulster who said his credit rating was perfect!?

He will be the proud owner of a new truck by Saturday!
 
Was the loan competitive with offers from elsewhere? Note that the ICB does not provide credit ratings, just credit history information. Lenders will draw their own credit rating conclusions from these records. Some lenders may consider somebody with no black marks on their record "perfect" while others (who may charge a premium) may consider those with black marks to be perfect.
 
He got his accountant to check the rates and they were very competitive.They were more competitive than AIB and BOI for 2 anyway. THere was no premium charged. I do not have the rates with me to post but will do so tomorrow after speaking with him this evening.
 
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