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Turning down offered loan

Hey everyone,

Hoping someone can help me out.

I recently applied for a loan, was accepted and I am currently waiting for the agreement to come through for me to sign and return.

However, I have been offered the amount I needed by my partners parents rather than take out a small loan.

If I now turn down the loan, will this affect my liklihood of being accepted for a mortgage by the same bank in 2/3 years? I.e will they see me changing my mind as a negative?

Thanks in advance for any thoughts/advise

Matt

Comments

  • andyfromotley
    andyfromotley Posts: 2,038 Forumite
    Ni i doubt it. i think its a trivial matter.
    £1000 Emergency fund No90 £1000/1000
    LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
    !
  • blenz101
    blenz101 Posts: 42 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    Provided you correctly cancel the application nothing more than the initial credit search will appear on your credit reports.

    Whilst nobody here can truly say how a bank would score a customers behavior applying then cancelling a product is very very unlikely to be a criteria they use to measure you.

    The bank exists after all to lend you money and sell you these products - so long as you represent a good risk to the bank, and a cancelled loan application does not affect this profile.
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