applying for loan

Firefox1975

linuxuk44 wrote: »

well I was asking for advise and rather did not want to say what it is for and now that u know i do not think it is necessary to explain why i have decided to buy equity in a house

Well if you could stump up the monies for a deposit then you might get a mortgage against it? which is excatly the same as a loan but obviously more secure for the bank.

jjgreenwood

in answer to your question the banks computer will view the following things with regards to loans

1. car/boat/motorcycle etc = computer will think customer may settle in the near future and will probably offer higher rate/product with early settlement penalties

2. Home improvement = computer will probably accept application as full term will probably be paid

3. Reconsolidation = see above although slightly higher rate may be applied as you've already settled one so you may settle another

4. Equity/stock market = almost certainly a higher rate or a straight decline depending on credit profile

linuxuk44

thank u all