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How to improve the chances of your loan application not being refused

Wed 21 August 2019

Doorstep Loans Main

When you apply for a loan, there's no way to know for sure whether you will be accepted. A rejected application can stay on your credit report for up to two years, so it’s important to avoid getting too many. Fortunately, there are a few things you can do to give yourself a higher chance of being accepted for a loan. Here are our tips to improve the chances of your loan application not being refused.


Doing a good amount of research before you start the application process can certainly increase your chances of being accepted. Different lenders have different criteria for who they will and won’t lend to.

If you are interested in applying for a loan with a particular company, check you meet all of their criteria before sending off any applications. If you don’t match up to what they want, continue your search elsewhere.

Online eligibility checkers are a useful research tool as they often do the hard work for you by finding the lenders who are most likely to offer you credit. There are still no guarantees you will be accepted by the lenders suggested, or that you’ll get the advertised rates. However, at least you won’t waste your time applying for loans with companies that are definitely likely to reject you.

Proper research also allows you to ensure the loan you apply for has rates and fees you can afford, to avoid getting into problems with repayments in the future.

Understand what you're looking for

Before you apply for a loan, decide which type of loan is best suited to your needs. There are a few different types of loans out there, and they each come with their own pros and cons, as well as varying terms and conditions. Understanding what you need will narrow down your search before you even begin.

Improve your repayment history

People with a better financial history are more likely to be accepted for a loan. If you have a history of late or missed payments, you may want to spend some time improving this to show future lenders you are reliable. You can do so by cancelling any accounts that are no longer in use, making all payments on time or in full, and paying back any debt you owe.

Request a copy of your credit report so you can see the history of your finances, in case there are any old accounts or debts you have forgotten about. This will give you an honest picture of where you are at, and which areas you should focus on improving.

Double-check your details

A minor mistake on your application for a loan could be the difference between having it accepted or refused. Avoid this by carefully checking all of your details before you send anything off. This includes minor typos, such as missing a zero off your income total, to bigger errors, such as entering an old address by mistake.

Seek advice if needed

If you’re still not really sure whether you’re on the right track or just want a second opinion, it might be a good idea to seek some free advice from your bank, a broker, or a money advisory service. They might spot something you have missed, or simply give you the go-ahead if everything looks correct.

About Morses Club

At Morses Club, we want to help you feel a little more in control of your finances, but we understand that unexpected costs can sometimes throw you off course. We are one of the UK’s leading doorstep lenders, providing small cash loans. Our loans aren’t the most suitable option for everyone, so if you are considering applying, it’s important you understand how doorstep lending works.

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