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I Have Been Refused credit by Black Horse for PCP can you help?

I've just been refused credit on a new Range Rover Evoque (waiting in dealership), by Northbridge (their preferred co) and Black Horse.

I've looked at my experian credit report and have 2 mortgage arrears still listed from 6 months ago, which were immediately cleared by us, as my other half wasn't managing our accounts properly as he wasn't well.

However, this has dropped my credit rating to "fair" and is currently 790. I earn over £53k a year basic, plus approx £10k bonus pa, plus a car allowance of £740 a month, but the company i work for specify that i must have a PCP not PCH. I currently have a PCP running (never defaulted) with Santander for my current Freelander, which I would P/ex (should be about 2k in it) to use as deposit.

I have previously had 2 to 3 year PCPs with no defaults. My Mum is happy to stand as a guarantor / joint applicant if needed. She would have an A1 credit history. Can you help, and quickly as need decision in next 48 hours? Thanks.

Asked by Katie F

Katie, huge apologies for not getting back to you sooner.

I'm confident we could be able to help but, i was away last week so obviously this reply is very late. Are you still in need of the PCP or have you found a deal elsewhere?

Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

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