[Dean champion]

Has anyone any asked to borrow more then 25% and had it agreed. I’m wondering how far I should push it  at those rates.

[Slacky]

They dont ask for proof.

[jo5hm4n]

Applied for mine on Saturday night and had an email on monday saying they had received my application and it was being processed.  Not sure if that is a yes or a no but we shall see!

My credit rating is very high (not that it matters for this loan) but i am hoping i get accepted this money will come in handy!

Anyone else had to wait this long whilst applying?  Im using HSBC, who i bank with anyway.

[Slacky]

I applied Friday, got confirmation yesterday evening.

Money hasn't been transferred yet, I expect later today. Santandar.

[LT carpet cleaning]

Seven questions

They ask for your turnover but no paperwork to bank that figure up - like the old self assessment mortgages of years gone by 


Darran

Them were the days. 110% mortgage, no questions asked 😳

An excellent catalyst for the 2008 recession.

[NWH]

I want 1 of these loan thingys 🤣🤣🤣

[deeege]

Seven questions

They ask for your turnover but no paperwork to bank that figure up - like the old self assessment mortgages of years gone by 


Darran

Them were the days. 110% mortgage, no questions asked 😳

An excellent catalyst for the 2008 recession.

Absolutely.

Sounds like these loans are eerily similar. Lad I know has just had £150k paid into his accounts spread over his 4 business’, all unsecured.

[Mike Burd]

Seven questions

They ask for your turnover but no paperwork to bank that figure up - like the old self assessment mortgages of years gone by 


Darran

Them were the days. 110% mortgage, no questions asked 😳

An excellent catalyst for the 2008 recession.

Can’t people be trusted to be sensible about their borrowing?

[KS Cleaning]

I applied and was accepted for a loan of 10k but I’ve since changed my mind so won’t be signing the documents.

[NWH]

Means nothing it’s all got to be paid back low interest or no interest,business need to be viable and earning come end of the year.

[DrewHastings]

My bank (Starling) was due to start offering them last week.
Then it was going to be yesterday.
Then it was going to be this afternoon.
Still no application form on website for sole traders. Ltd companies going mad at Starling on Twitter as they are being so slow with their applications (opened Monday).

 Have rung HSBC and awaiting call back, as a back up.

[DrewHastings]

Following on from the above......

Starling have now opened their applications.

They are asking for the 2018/2019 tax return and SA100 as well as 2018/2019 tax calculation SA302.

Anyone else get asked for this at other banks?

[Bungle]

Seven questions

They ask for your turnover but no paperwork to bank that figure up - like the old self assessment mortgages of years gone by 


Darran

Them were the days. 110% mortgage, no questions asked 😳

An excellent catalyst for the 2008 recession.

Can’t people be trusted to be sensible about their borrowing?

Can’t people be trusted to save and not have to borrow?

[Denise l]

I applied last Monday and the money was in the bank Friday. Yes it is a loan, free for the 1st 12 months with nothing to pay, then a monthly payment over 6 years at an interest rate of 2.5%. Cheap money. You don’t have to use it, it’s an insurance policy for the next 12 months, if you don’t use it, which I don’t intend to, then you just pay it back after the 12 months. Just too good an offer to pass on, just be savvy and trade carefully.

[Slacky]

Following on from the above......

Starling have now opened their applications.

They are asking for the 2018/2019 tax return and SA100 as well as 2018/2019 tax calculation SA302.

Anyone else get asked for this at other banks?

Nope.

[Mike Burd]

Seven questions

They ask for your turnover but no paperwork to bank that figure up - like the old self assessment mortgages of years gone by 


Darran

Them were the days. 110% mortgage, no questions asked 😳

An excellent catalyst for the 2008 recession.

Can’t people be trusted to be sensible about their borrowing?

Can’t people be trusted to save and not have to borrow?

Wow! What a statement!

[Bungle]

Seven questions

They ask for your turnover but no paperwork to bank that figure up - like the old self assessment mortgages of years gone by 


Darran

Them were the days. 110% mortgage, no questions asked 😳

An excellent catalyst for the 2008 recession.

Can’t people be trusted to be sensible about their borrowing?

Can’t people be trusted to save and not have to borrow?

Wow! What a statement!

Not really. My motto is ‘if you can’t afford it you can’t have it’

What is the point in borrowing £10k if you don’t need it?

[TomCrowther]

Seven questions

They ask for your turnover but no paperwork to bank that figure up - like the old self assessment mortgages of years gone by 


Darran

Them were the days. 110% mortgage, no questions asked 😳

An excellent catalyst for the 2008 recession.

Can’t people be trusted to be sensible about their borrowing?

Can’t people be trusted to save and not have to borrow?

Wow! What a statement!

Not really. My motto is ‘if you can’t afford it you can’t have it’

What is the point in borrowing £10k if you don’t need it?

You might not need it right now but the full ramifications of this virus have not yet been felt. If you do need some help in say six months it almost certainly won't be easy to obtain.

[deeege]

Seven questions

They ask for your turnover but no paperwork to bank that figure up - like the old self assessment mortgages of years gone by 


Darran

Them were the days. 110% mortgage, no questions asked 😳

An excellent catalyst for the 2008 recession.

Can’t people be trusted to be sensible about their borrowing?

Can’t people be trusted to save and not have to borrow?

Wow! What a statement!

Not really. My motto is ‘if you can’t afford it you can’t have it’

What is the point in borrowing £10k if you don’t need it?

I don’t need it, but I may do in 12-18-24-48 months. Who knows. It’s an insurance policy and a free one at that.

[Mike Burd]

Seven questions

They ask for your turnover but no paperwork to bank that figure up - like the old self assessment mortgages of years gone by 


Darran

Them were the days. 110% mortgage, no questions asked 😳

An excellent catalyst for the 2008 recession.

Can’t people be trusted to be sensible about their borrowing?

Can’t people be trusted to save and not have to borrow?

Wow! What a statement!

Not really. My motto is ‘if you can’t afford it you can’t have it’

What is the point in borrowing £10k if you don’t need it?

That’s not what you said. For many years the thought of saving was just a dream to me. Many people barely manage on what they earn.

For me as a domestic Window cleaner, Covid 19 has had a very limited impact although I’ve lost what little commercial I had. If I was 95% commercial my business would be destroyed perhaps for ever.