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Loan for starting graduate job Watch

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    Hi all,

    To cut a long story short, I need to move to Cambridge for work. I have just finished my master's, and this is my first 'proper' full-time job. I tried to get a loan/credit card from RBS, but they are quite stringent and need 3 months of income and won't allow loan for moving costs/general expenses. I need the loan to pay my deposit for a flat and general expenses/moving. Does anyone know any other banks/had experience with banks, where they will able to get a loan relatively easy? My pay is around 25k, going up to 30k in 6 months., so I would be able to pay it back.

    Any advice would be greatly appreciated.

    Cheers,

    Andrew
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    It's extremely sad that we've got to the stage where people are taking loans to chase after jobs. You could be made redundant, it may not work out, you could get ill, who on Earth values a job that much they would risk their personal assets to chase it?
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    (Original post by l'etranger)
    It's extremely sad that we've got to the stage where people are taking loans to chase after jobs. You could be made redundant, it may not work out, you could get ill, who on Earth values a job that much they would risk their personal assets to chase it?
    Well i'm not 'chasing after a job'. I have a research assistant position at Cambridge University in a subject that I'm very passionate about, it is the perfect job for me. Unfortunately, I don't have the income to cover my first month or so, therefore taking out a small loan, which I can easily re-pay, isn't the injustice of the century. I do agree with your comment in principle though.
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    (Original post by Andrew41289)
    Well i'm not 'chasing after a job'. I have a research assistant position at Cambridge University in a subject that I'm very passionate about, it is the perfect job for me. Unfortunately, I don't have the income to cover my first month or so, therefore taking out a small loan, which I can easily re-pay, isn't the injustice of the century. I do agree with your comment in principle though.
    It was less a criticism of your personal choices and more a criticism of society.
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    (Original post by Andrew41289)
    Hi all,

    To cut a long story short, I need to move to Cambridge for work. I have just finished my master's, and this is my first 'proper' full-time job. I tried to get a loan/credit card from RBS, but they are quite stringent and need 3 months of income and won't allow loan for moving costs/general expenses. I need the loan to pay my deposit for a flat and general expenses/moving. Does anyone know any other banks/had experience with banks, where they will able to get a loan relatively easy? My pay is around 25k, going up to 30k in 6 months., so I would be able to pay it back.

    Any advice would be greatly appreciated.

    Cheers,

    Andrew
    Do you have anything of your student overdraft left you could use? That will only be withdrawn gradually and not straight away. Most banks are strict about lending only to those with a regular income- how do they know you will start the job and stay on until you get paid. Could a family member lend you the funds? Or alternatively could they apply for the loan? At least they might get accepted.
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    Have you asked your employer if they can provide you an advance?
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    (Original post by Andrew41289)
    Hi all,

    To cut a long story short, I need to move to Cambridge for work. I have just finished my master's, and this is my first 'proper' full-time job. I tried to get a loan/credit card from RBS, but they are quite stringent and need 3 months of income and won't allow loan for moving costs/general expenses. I need the loan to pay my deposit for a flat and general expenses/moving. Does anyone know any other banks/had experience with banks, where they will able to get a loan relatively easy? My pay is around 25k, going up to 30k in 6 months., so I would be able to pay it back.

    Any advice would be greatly appreciated.

    Cheers,

    Andrew
    Most banks (especially the one where you have a graduate account) should be able to give you a graduate loan. Try HSBC
    http://www.hsbc.co.uk/1/2/loans/graduate

    All banks should do something similar. I think I had a loan for my first job.
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    (Original post by 999tigger)
    Most banks (especially the one where you have a graduate account) should be able to give you a graduate loan. Try HSBC
    http://www.hsbc.co.uk/1/2/loans/graduate

    All banks should do something similar. I think I had a loan for my first job.
    I'll definitely check them out, thanks!
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    (Original post by Andrew41289)
    I'll definitely check them out, thanks!
    You might need a pre- existing relationship, but id suggest if you take along your last 3/6 months bank accounts plus your offer letter with the salary details on then you should be fine.
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    My graduate account had £2000 interest free overdraft for the first year, if you're not already in your overdraft this might help? Alternatively can you get an overdraft agreed? the fees for an arranged overdraft are not too crazy, between that and a credit card you should be able to manage for a month
 
 
 
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