Finance

[SandTiger]

So last weekend, I attempted to get finance on a bike. (0% don't panic) However, having never registered for the voters roll before, and having only just moved in to my new flat, and then registering for it, when the credit company went to find me, they couldn't. So I was declined.

Got a letter in the post yesterday, saying that I had now been accepted to the voters roll, and I would be updated to it on the 1st of December. Was wondering if the credit people will have any of those details before the 1st of December? To prove I am where I say I am, so I can retry it asap.
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2015 Kawasaki Z800e "Zee"
2006 Yamaha MT-03 "Mary Jane"
2011 Yamaha YBR125 "Ally"

[Benjums]

Probably not to be honest, to start building up a credit rating, the best bit of advice I was given was to get a credit card from my bank and every other week put 20 quids worth of fuel in my car with it, then pay it off the card 2 days later. Keep doing that for a few months and you will have a good credit rating.
If you keep applying for credit every couple of months that will knock your rating down and make it harder to get credit.
You just have to be really careful when doing the credit card method because they will put your limit up quite quickly and it's easy enough to think I will just put this, that and that on my card and pay it off. Things can get way out of hand. Use it once then put it in a drawer for a couple of weeks. Unfortunately this won't get your bike now but by spring when the new bikes are coming out and the sales are on, you should be in a good position then.

[SandTiger]

[Polarbear]

Being on the electoral role is a must. You just won't get credit now if you aren't.

Once you have that go for the easy things to get -
phone contract.
Bank account, I presume you have a normal current account with debit card?
Credit card(if necessary one of these ones for people with bad credit. Yes, it will be 39% interest but if you pay it all off at the end of the month it won't matter.

Then it's just a matter of waiting. Use Experian free to check your rating, just remember to cancel it before the months up or you will pay about £50 a year.
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Triumph Trophy Launch Edition

[Benjums]

If your credits good then just hold out till December and apply again, just stop applying for things now as that will damage your credit rating.
I know it's a pain waiting 2 months for things to update but will be hopefully worth it.

[mattyfattyboo...]

[Dannygee]

[Polarbear]

[CBFcarl]

[Clanger]

I don't do finance. I never buy anything I can't afford to buy. I think its a good mind-set to have. IMO.
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Be who you are and say what you feel, because those who mind don't matter, and those who matter won't mind - Dr. Seuss

[bEN_]

[Nexus Icon]

[woo]

cheers for the noodle credit check i just signed up
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Elen sila lummen omentielvo!

[barrkel]

[sabian92]

On Noddle at the moment it's a tenner off their credit score reader-thing. It's normally 30 quid but it's 20 at the moment and it shows your actual score for the whole year.

[mattyfattyboo...]

[iooi]

[Rogerborg]

[fozzym]

I was once told that the better the deal the harder it is to get....Hence sometimes if you apply for a certain deal they come back and say you can't have that one but can have another at a higher rate.

Like others have said, you need to check your credit rating and then take advice from the likes of Moneysavingexpert as to how to improve it if needs be.

[Val]

unfortunately it does not work so fast. Believe me I do a software for credit checks.

All lenders use the information from few credit rating information agencies to get information about you like who you are and are you on electoral register, do you have any defaults, missed payments on current loans/credit cardss/mortagges, other arrears or say court orders. Each agency do their own caredit rating. The lenders get all the available information about your credit history from credit agencies - thing like how many loans/credit cards you have currently and in the past. They also get the credit ratings. Getting the information is called search.

Based on all that each lender uses its own rating calculated on all the above plus some lender specific algorithms which they decide will do them more money.

For example some lender may look for people that tend not to pay off in full say credit card debts if the risk is acceptable that means this guy will pay more interest right?

I would start first with free credit rating checks tools like https://www.checkmyfile.com/ this will give you some idea about how good is your general credit rating, no guarantuee that you will get credit at all.

Carefull with how often you apply for credit/loan. The problem is that each time you apply for loan there is credit search recorded with all credit rating agencies, search like the one you have for applying for loan but not getting it, is very bad for your rating. All credit searches are part of credit rating calculations and if you do many searches your credit rating from excellent say 900 with Experian with say 6-7 searches (loan applications) can become bad say 300. The lower your rating with credit agencies the higher interest from lenders for loan/credit. Credit searches have expiration means if you do not search for laon say about 6 months the older searches are not calculated. General rule of thumb is if you do not want to ruin your rating do not do more then 2-3 searches (loan applications) in 6 month timeframe.

Means hold your horses for few months do not apply so that there are no searches and check your rating before you apply next time.

Read the small print there you will find which is actualy the lender. Most motorcycle vendors use few lenders like Black Horse and Santander. Usually they have very relaxed lending policy that means something major is on your credit records. Like Electoral registration. One also very important thing is how long you have lived on your current address. It is good if it is more then 3 years. It is very important you check with all 3 major agencies that they have the correct address information for you. If there is something wrong you can contact the credit rating agency and ask them to fix it.
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Adrian Monk: Unless I'm wrong, which, you know, I'm not...
Yamaha Fazer FZS 600, MT09, XSR 900

[Benjums]

[mattyfattyboo...]

[iooi]

[suburban myth]

So to get back to the OP's question, I doubt that they'll be able to see your details until December 1st. There is, however, no harm in contacting the finance company in question and asking them if they will accept your letter as proof.

[SandTiger]