to working at a bank?
i have a question
to working at a bank?
i have a question
Gamertag - Russonf (xbox and ps3)
What kind of question.
Working in a bank covers a lot of things![]()
throw new ArgumentException (String, String, Exception)
it's quite a simple one..
does a bank manager have any sway in whether or not you are given a loan, or does it still go off to a computer to say no?
Gamertag - Russonf (xbox and ps3)
yeah he wants a Retail Bank worker.
I would hazard a guess from my own dealings with my "relationship manager" its a bit of both. I had a serious cash flow issue a few months ago when a client was dragging their heals in paying me, at the same time I'm changing my mortgage. I ended up transfering some money from savings which took 7 days or so. He approved the direct debits despite making it quite a few thousand pounds overdrawn. Yet he couldn't give me an large enough overdraft, despite been happy that I had the cash incoming, because computer said no. So I basically went insainly overdrawn with no fees instead :S
throw new ArgumentException (String, String, Exception)
Thanks guys. I'm hoping they lied snooty![]()
I think banks these days use data mining techniques in order to process applications. Essentially every existing loan is profiled on a data base and then new applicants data is matched to existing profiles and they can determine if a new application is likely to fall into a good or bad profile by looking at how closely your details match those of traditionally good or bad debtors. The theory behind it is simply looking at those statistical qualities that are shared by people who default on their loans and if an applicant shares too many of them, then they are declined.
I think it depends on the bank and it depends on what you are asking them.
When I was arranging an extension to an existing mortgage a couple of years ago, the mortgage advisor at my RBS branch managed to persuade the underwriter to give me sightly more than they were offering initially. My income can vary quite drastically from month to month, usually they would only look at the most recent three months, but she persuaded them to look at not only the previous six months but previous years as well.
So yes, sometimes they have some sway, sometimes not.
When I was with HSBC and had banked with them for many years they seemed to have quite a bit of leeway, although I'm not sure if that was just down to a decent behaviour score on the local system. I suspect it largely depends on the size of the bank - at the big banks the local staff are far less likely to have any say to ensure consistency of service...
I can understand if you don't want to share your personal financial circumstances on here Russ, but it would really help if we knew yr credit history, record of previous defaults etc. etc.
It might be an idea to create a new and anonymous account on MSE and ask on there, or another specialist financial forum.
Banks are hugely overexposed to dodgy loans at the moment however and they're trying to reduce their exposure. TBH credit at reasonable rates is going to be hard to come by if you're anything other than a sure bet.
I have always banked with the Halifax but they would not give me a mortgage, I got my mortgage with the Leeds building society when they were going and now I own my own house I am always asked by the Halifax if I want to borrow money, they have no chance they blew it at day 1.
Best of luck consolidating.
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