residential status - furnished/unfunished?

tasty_snacks

i'm currently applying for a loan which is asking the question of whether the house i am renting is furnished, or unfurnished. in truth, it's part-furnished, which leaves me with a bit of a dilemma...

however, does anyone know which lenders are more willing to loan to? i assume it'll be unfurnished, as this implies that you would have to have provided your own furniture and are therefore less willing to move arond frequently, thus are a less risky debtor???

that said, most pads in the city are fully furnished to attract the busy professionals???

~Brock~

tasty_snacks wrote: »

i'm currently applying for a loan which is asking the question of whether the house i am renting is furnished, or unfurnished. in truth, it's part-furnished, which leaves me with a bit of a dilemma...

however, does anyone know which lenders are more willing to loan to? i assume it'll be unfurnished, as this implies that you would have to have provided your own furniture and are therefore less willing to move arond frequently, thus are a less risky debtor???

that said, most pads in the city are fully furnished to attract the busy professionals???

As far as I am aware unfurnished tennants are regarded as the better risk.

enjoyincubus

tasty_snacks wrote: »

i'm currently applying for a loan which is asking the question of whether the house i am renting is furnished, or unfurnished. in truth, it's part-furnished, which leaves me with a bit of a dilemma...

however, does anyone know which lenders are more willing to loan to? i assume it'll be unfurnished, as this implies that you would have to have provided your own furniture and are therefore less willing to move arond frequently, thus are a less risky debtor???

that said, most pads in the city are fully furnished to attract the busy professionals???

My experience of these things is that you either own your home - or you don't.

The people who don't own their home (ie. living with parents, tenants of any variety) will always represent the highest level of risk. So they tend to get grouped together accordingly.

It all depends upon the application scorecard that the loan company uses, and whether it treats types of tenants differently. From an underwriting point of view, I doubt they would even care whether you were a furnished or unfurnished tenant.

thebaroness

I would speak to the lender, tell them that it's part furnished and let them decide what that should be input as. Although I'd be surprised if it made that much of a difference to the scoring system.