Advice please??

Hodkin

Hello,

I want to get a £10,000 loan from Co-Op bank over 7 years and I want to do some necessary home inprovements and also pay off a credit card.

I'm not sure which reason would most likely get me the loan as it only offers me 1 option to put the reason for the loan. Shall I put Debt Consolidation?? or Home improvements?? Which would be most likely to get me an acceptance? The credit card is £4500 and the repairs/improvements will be the rest.

Thankyou in advance.

Peelerfart

At the risk of being radical, what about telling them the truth.

Hodkin

Peelerfart wrote: »

At the risk of being radical, what about telling them the truth.

Sorry, the truth is I want to do both but the drop down menu only allows me to select one of the above?!

Thanks again.

Tixy

I don't think the reason for the loan makes much difference to whether you will be accepted (even if you put consolidation they'll still consider it as additional debt on top of what you already have as you could still decide to blow the money or run up the debt again etc).
I'd probably go for whatever the majority of the money will be used for or you could call them and ask what they which box they'd advise you to select.