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Your application could be rejected for a number of reasons, although the most common problem is your past credit record. The lender will also reject you application if it believes that you have sufficient income to comfortably maintain the repayments.
The lender is not obliged to tell you exactly why they have refused you but if you ask, they do have to give you the contact details of the credit agency it used to assess your credit rating.
You can then contact the credit reference agency in question for a copy of your credit report so you can see whether any problems are shown on your credit history.
You should be aware that every loan company has different lending criteria. Therefore, whilst you may have been rejected by one lender, that does not necessarily mean that all lenders will reject you. Your best bet is to apply through a loans broker who, after looking through your details, will know which lenders are most likely to approve your application.
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