£50K Interest Free Loan for 12 Months

[jamesbrown]

If you were a proper contractor your closest neighbours would only just be visible from the butlers window.

If you were a proper contractor, all your neighbours would be employed by your estate.

[GhostofTarbera]

If you were a proper contractor, all your neighbours would be employed by your estate.

If you were a proper contractor, all your servants would bow down to you on your Caribbean island while you get millions from the great unwashed British tax payer


Sent from my iPhone using Contractor UK Forum

[ladymuck]

Got the eContract to sign this morning from HSBC. Odd as it's pretty much a duplication of the what was already agreed on the website and they could have captured a DD mandate for repayments at the same time.

[CosmicWave]

I hear from business manager at Barclays that if your business address registered there is a home address (where you get your statements) but is not a real business address, you will not get the loan.

Also if you have a business address set to your accountants address (i.e. your registered office address which is usually your accountant's address), then also you will fail to get the loan.

Apparently if they had lent out accidentally when the customer's address violates the above two things, then there is small print that they can take back that loan amount lent anytime.

So, its all hopes lost for me now, since my business address is my Registered office address (i.e. my accountants address), although I have setup a separate correspondence address that is my home address just for receiving my monthly Business current account bank statements.

The thing is we are expected to have a physical real office address for our business with lease named on us directly where we go every day to work (even if we are just one man company!). Otherwise they don't accept that business address, nor will they accept the home address.
They are saying this is what they are expecting customers to fill up in KYC with a leased building (my goodness for a simple software company with 1 or 2 people??? Barclays come on!).

[northernladuk]

I hear from business manager at Barclays that if your business address registered there is a home address (where you get your statements) but is not a real business address, you will not get the loan.

Also if you have a business address set to your accountants address (i.e. your registered office address which is usually your accountant's address), then also you will fail to get the loan.

Apparently if they had lent out accidentally when the customer's address violates the above two things, then there is small print that they can take back that loan amount lent anytime.

So, its all hopes lost for me now, since my business address is my Registered office address (i.e. my accountants address), although I have setup a separate correspondence address that is my home address just for receiving my monthly Business current account bank statements.

The thing is we are expected to have a physical real office address for our business with lease named on us directly where we go every day to work (even if we are just one man company!). Otherwise they don't accept that business address, nor will they accept the home address.
They are saying this is what they are expecting customers to fill up in KYC with a leased building (my goodness for a simple software company with 1 or 2 people??? Barclays come on!).

I find that very hard to believe. Many business's have different trading addresses to registered addresses. I can't see why it would make a difference anyway. Santander had no problems with it as do some of the other banks looking at this thread.

[ladymuck]

You don't have to apply with the bank your business uses. Try a different one.

[elsergiovolador]

I also find it hard to believe, but I wouldn't be surprised. It is just one of the tools that government hostile towards self-employed uses. The funniest one I remember was in the CEST tool, where the question is - do you provide your own tools? and then it goes on that laptops etc are excluded Could be another trick.

[ladymuck]

Got the eContract to sign this morning from HSBC. Odd as it's pretty much a duplication of the what was already agreed on the website and they could have captured a DD mandate for repayments at the same time.

And the money is in my account. So 4 days from application to receipt of funds. Not bad.

[PerfectStorm]

I've had the grand total of one email and a text message from Clydesdale.

[andydd68]

I hear from business manager at Barclays that if your business address registered there is a home address (where you get your statements) but is not a real business address, you will not get the loan.

Also if you have a business address set to your accountants address (i.e. your registered office address which is usually your accountant's address), then also you will fail to get the loan.

Apparently if they had lent out accidentally when the customer's address violates the above two things, then there is small print that they can take back that loan amount lent anytime.

So, its all hopes lost for me now, since my business address is my Registered office address (i.e. my accountants address), although I have setup a separate correspondence address that is my home address just for receiving my monthly Business current account bank statements.

The thing is we are expected to have a physical real office address for our business with lease named on us directly where we go every day to work (even if we are just one man company!). Otherwise they don't accept that business address, nor will they accept the home address.
They are saying this is what they are expecting customers to fill up in KYC with a leased building (my goodness for a simple software company with 1 or 2 people??? Barclays come on!).

Have you tried ?

My biz addresses is my home addresses and it all went through n said its accepted...although not paid yet.