Help with a loan application

stevenjames8

Out of interest. Yesterday I rang Halifax to enquire about a loan. When asked what amount I required they asked what it was for, I replied it was for a number of things. Then they asked for a breakdown of what was being spent on what. Obviously I just gave an estimate of what was being spent i.e. £6000 on a car, £1500 home improvements. My question is do I have to show them what the money was spent on etc or prove that I had the money on these things because what if I don't spend it exactly how I said? I explained that I don't know exactly how much the car is going to be!

Macca83_2

No you don't need to provide proof. There are certain things that banks don't lend for, house deposits and share purchases to give 2 examples. They also need to know what their money Will be spent on.

BugsyBrowne

Once youve brought your new car sit outside the bank and honk your horn this should be proof.(only kidding)

geoffky

You are going to get caught out,,this is the deposit for your sons house and it is not allowed by most lenders...they will after your evasive phone call be on the lookout..