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  • FIRST POST
    • essex.cyclist
    • By essex.cyclist 5th Oct 16, 12:20 PM
    • 58Posts
    • 14Thanks
    essex.cyclist
    What do banks consider a large loan?
    • #1
    • 5th Oct 16, 12:20 PM
    What do banks consider a large loan? 5th Oct 16 at 12:20 PM
    Hi all


    Looking at a £10k loan but could probably reduce that a little if needs be, maybe down to £7.5 / 8k.


    Is this sort of difference of an relevance to the bank?


    Do they consider £10k as a big loan to try and be approved for?


    Thanks
Page 4
    • essex.cyclist
    • By essex.cyclist 12th Oct 16, 5:15 PM
    • 58 Posts
    • 14 Thanks
    essex.cyclist
    Ignoring potentially useful advice from someone just because you don't like them?. That has to be the very definition of ignorant doesn't it?.

    Fair enough that you have made your choice but I personally always consider what someone has to say no matter how much I dislike them. Maybe you should drop your preconceptions and open your mind to new ideas and you never know you might learn something useful!.
    Originally posted by takman


    No, it's not remotely the definition of ignorance.


    I've acted upon my own thoughts and people's advice on here.


    Your posts were unhelpful and rude, and by the looks of things you haven't learnt a thing.


    Ignorance is bliss.
    • takman
    • By takman 13th Oct 16, 11:58 AM
    • 1,521 Posts
    • 1,163 Thanks
    takman
    No, it's not remotely the definition of ignorance.


    I've acted upon my own thoughts and people's advice on here.


    Your posts were unhelpful and rude, and by the looks of things you haven't learnt a thing.


    Ignorance is bliss.
    Originally posted by essex.cyclist
    Well you have taken out a 10k loan when you only needed 7.5k and not until next year!. So if you had considered what I said in my post it would have saved you money, so I wouldn't call that unhelpful.

    Ignornace is a lack of knowledge or understanding. You have failed to consider what i have said and didn't understand that it would have saved you money. You instead proceeded in ignornace with the route of taking out a loan.

    I don't know exactly what you think I should learn but your the one who is making poor financial decisions and not me!. If people choose not to consider my opinions when I post even when it will benefit them I'm not going to put effort into convincing them in a nice and friendly way. If they want to make the "wrong" choice then that's up to them just like you did.

    If you happy with your poor financial skills and being in debt paying more interest than you need to then that's good!. I definetly agree that in your case ignorance is bliss in regards to your administration of your finances.


    But one last point I have to ask is you say you have acted on the advice of people on this thread. Can you point me to the post that told you to borrow 10k?. Most of the posts were telling you that if you could do with less you should take less but you obviously ignored that.
    So actually you came on here deciding to take out a 10k loan to pay off what you owe and after all the advice you still took out a 10k loan. You havnt considered anything anyone has said on here and just did what you were going to anyway aka ignornace (lack of knowledge).

    So my one final piece of "advice" I would give you is always consider you may not be right and research and listen to others before making a decision!.
    • essex.cyclist
    • By essex.cyclist 13th Oct 16, 1:09 PM
    • 58 Posts
    • 14 Thanks
    essex.cyclist
    Well you have taken out a 10k loan when you only needed 7.5k and not until next year!. So if you had considered what I said in my post it would have saved you money, so I wouldn't call that unhelpful.

    Ignornace is a lack of knowledge or understanding. You have failed to consider what i have said and didn't understand that it would have saved you money. You instead proceeded in ignornace with the route of taking out a loan.

    I don't know exactly what you think I should learn but your the one who is making poor financial decisions and not me!. If people choose not to consider my opinions when I post even when it will benefit them I'm not going to put effort into convincing them in a nice and friendly way. If they want to make the "wrong" choice then that's up to them just like you did.

    If you happy with your poor financial skills and being in debt paying more interest than you need to then that's good!. I definetly agree that in your case ignorance is bliss in regards to your administration of your finances.


    But one last point I have to ask is you say you have acted on the advice of people on this thread. Can you point me to the post that told you to borrow 10k?. Most of the posts were telling you that if you could do with less you should take less but you obviously ignored that.
    So actually you came on here deciding to take out a 10k loan to pay off what you owe and after all the advice you still took out a 10k loan. You havnt considered anything anyone has said on here and just did what you were going to anyway aka ignornace (lack of knowledge).

    So my one final piece of "advice" I would give you is always consider you may not be right and research and listen to others before making a decision!.
    Originally posted by takman


    You called me ignorant for not accepting advice from someone I don't like, and you were wrong. That isn't ignorant.


    Thanks for further displays of ignorance. After my comments not needing 10k, I have reviewed my position and concluded that actually, the 10k loan will be better for me overall.


    Timing wise, I need it sooner than envisaged.


    You're desperate to criticise my financial management skills, but as we have seen, you're not in a position to make that judgement.


    You're either a troll or you're just not very bright - because you keep making the same mistake over and over again.


    Time for you to grow up, I think.
    • takman
    • By takman 13th Oct 16, 2:57 PM
    • 1,521 Posts
    • 1,163 Thanks
    takman
    You called me ignorant for not accepting advice from someone I don't like, and you were wrong. That isn't ignorant.


    Thanks for further displays of ignorance. After my comments not needing 10k, I have reviewed my position and concluded that actually, the 10k loan will be better for me overall.


    Timing wise, I need it sooner than envisaged.


    You're desperate to criticise my financial management skills, but as we have seen, you're not in a position to make that judgement.


    You're either a troll or you're just not very bright - because you keep making the same mistake over and over again.


    Time for you to grow up, I think.
    Originally posted by essex.cyclist
    As someone who has taken the advice of many people on this forum and other sources I would say I'm in a good position to judge your financial situation based on the information you have provided.

    In 8 days you have gone from needing a 7.5k loan to pay off a debt next year to needing a 10k loan immediately. How does that show any kind of reasonable financial managment skills, from that fact alone it shows you have a limited grasp of your finances.
    Maybe you just love borrowing money and think their is nothing wrong with having large amounts of debt?. You don't happen to have a car or two on a PCP or lease deal aswell do you?.

    We could continue here all day with me judging your financial situation based on the new information in each of your posts. Then you replying to say how I'm "ignorant", "not very bright" and "need to grow up" etc but it's not really very productive and definetly isn't going to help you!.
    • benten69
    • By benten69 13th Oct 16, 3:10 PM
    • 226 Posts
    • 1,243 Thanks
    benten69
    In answer to the original question, it's a case of how long is a piece of string. It's all relative. £10k is a lot for some one earning £20k a year, but not a lot to someone earning £250k a year, so banks will judge the case on an individual basis.
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    • Thrugelmir
    • By Thrugelmir 13th Oct 16, 4:26 PM
    • 51,211 Posts
    • 42,991 Thanks
    Thrugelmir
    The answer has more to do with the credit profile of the potential borrower more than anything else. By way of simple explanation. Lenders can profile people into around 14 categories of borrower. Human nature makes us either pessimists (cautious) or optimists (risk takers), The higher you fall up the category of optimist the more likely you are to default in some way. Depends on the lender concerned and their target market, whether it's the type of customer they are actively seeking to lend to. If so on what terms.
    “A man is rich who lives upon what he has. A man is poor who lives upon what is coming. A prudent man lives within his income, and saves against ‘a rainy day’.”
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