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Personal Loan Early Remayment & Underwriter Interpretation
Hey all,
Just a quick question, I have a loan from Lloyds for £1000,
Took this out in early Jan '12 I do have the money to pay this off now. I have already paid £500 off the loan so all I have is £500 left or 6 months worth of payments.
on my credit file it shows as £91 p/m for 12 months as the term.
If I settle this within the next few months it would have only ran for 2/3 months will this look bad settling up early in the view of an underwriter or will it looks positive as I have more money to clear it fr faster.
Also I'm abit worried how lloyds have updated this info. I made the £500 payment beginning of Feb.
Lloyds have put it down as outstanding amount £500 12months £91.
As Lenders can't see other lenders name do you think an underwriter might view it that this is a payday loan ? because £500 at 91 pm looks payday like. It's not at all it's a very good personal loan rate for £1000.
I'm not going to start mentioning about credit scores because I know the anti credit score crew will start saying they don't exist blah blah blah so I'll phase it different " in the view of an underwriter - how does it look. "
All advise would be helpful.
Thanks.
Just a quick question, I have a loan from Lloyds for £1000,
Took this out in early Jan '12 I do have the money to pay this off now. I have already paid £500 off the loan so all I have is £500 left or 6 months worth of payments.
on my credit file it shows as £91 p/m for 12 months as the term.
If I settle this within the next few months it would have only ran for 2/3 months will this look bad settling up early in the view of an underwriter or will it looks positive as I have more money to clear it fr faster.
Also I'm abit worried how lloyds have updated this info. I made the £500 payment beginning of Feb.
Lloyds have put it down as outstanding amount £500 12months £91.
As Lenders can't see other lenders name do you think an underwriter might view it that this is a payday loan ? because £500 at 91 pm looks payday like. It's not at all it's a very good personal loan rate for £1000.
I'm not going to start mentioning about credit scores because I know the anti credit score crew will start saying they don't exist blah blah blah so I'll phase it different " in the view of an underwriter - how does it look. "
All advise would be helpful.
Thanks.
0
Comments
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If they see it paid and a record of payment they wont care.0
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bump anyone?0
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bump again?0
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