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    Basically i need some money up front. I've got a semi job, earning around £220 every 2 weeks, so £440ish per month.

    All wages are paid into this bank, and have been for the last 5 months or so.

    Is there a chance they would give me a loan? If so how much for £1k? £2k? £3k?

    Whats the likely payback period and would i need a good reason, or could i just blag it with some excuses, like holiday, car repairs etc

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    (Original post by England_4)
    Basically i need some money up front. I've got a semi job, earning around £220 every 2 weeks, so £440ish per month.

    All wages are paid into this bank, and have been for the last 5 months or so.

    Is there a chance they would give me a loan? If so how much for £1k? £2k? £3k?

    Whats the likely payback period and would i need a good reason, or could i just blag it with some excuses, like holiday, car repairs etc

    Cheers
    You're approaching this from the wrong direction, IMO. You shouldn't be asking how much they'd be willing to give, but rather how much you need, and for how long. We can probably advise you better if you can give us some more details like these, but if you're just looking for money in the short term then a simple overdraft may be the easiest solution, and these should be available on most standard current accounts. Make sure that you get this authorised with the bank first, though, as otherwise the charges/interest can become much higher.

    You won't usually need a specific reason for an overdraft (or for small loans), but having proof of a regular income is at the very least helpful, if not essential, for borrowing money, as is a good credit history. If your income has been fairly regular for the past few months, you'd probably have a fairly good chance of being able to get a loan/overdraft from your existing bank. I'd suggest that you pay a vist to your local branch and have a word with one of their advisers. If you plan to go during a busy period, you may find it helpful to book an appointment in advance (call them).
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    (Original post by Illusionary)
    You're approaching this from the wrong direction, IMO. You shouldn't be asking how much they'd be willing to give, but rather how much you need, and for how long. We can probably advise you better if you can give us some more details like these, but if you're just looking for money in the short term then a simple overdraft may be the easiest solution, and these should be available on most standard current accounts. Make sure that you get this authorised with the bank first, though, as otherwise the charges/interest can become much higher.

    You won't usually need a specific reason for an overdraft (or for small loans), but having proof of a regular income is at the very least helpful, if not essential, for borrowing money, as is a good credit history. If your income has been fairly regular for the past few months, you'd probably have a fairly good chance of being able to get a loan/overdraft from your existing bank. I'd suggest that you pay a vist to your local branch and have a word with one of their advisers. If you plan to go during a busy period, you may find it helpful to book an appointment in advance (call them).
    Right thanks. No background information really apart from what i've given you.

    The more money the better obviously, i'd be happy enough with around a £1500 loan over 24 months? Would that be too long a payback period/too high of loan for someone who is only 19?

    Other options would be £1000 over 12 months, paying it back in installments such as £80 a month would be alright obviously plus interest.

    I just don't know what figure to go in with, with what is reasonable and is likely to be accepted?
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    (Original post by England_4)
    Right thanks. No background information really apart from what i've given you.

    The more money the better obviously, i'd be happy enough with around a £1500 loan over 24 months? Would that be too long a payback period/too high of loan for someone who is only 19?

    Other options would be £1000 over 12 months, paying it back in installments such as £80 a month would be alright obviously plus interest.

    I just don't know what figure to go in with, with what is reasonable and is likely to be accepted?
    Both sound feasible, though each bank will have their own tests to determine your eligibility. Do you need more than £1,500? If not, I can't see a good reason to borrow more, as it will just lead to you having to pay more interest. Also, do you have a reasonably good credit record, as far as you know? This would help an application, though is probably not essential.

    For an example to determine the affordability of a loan, check the Halifax website (clicky), where there's a quick calculator. I'd expect most major banks to have something similar, if you want to check for your own bank.
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    440 Income per month will not meet affordability for a loan from a high streetbank I am afraid
 
 
 
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