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Loan - two purposes
oldchap1000
Posts: 11 Forumite
I am considering applying for a personal loan for around 13-14k. I have two purposes for this: a home improvement for around 6k and a car purchase for 10k. The loan would be topped up with 3k from savings. The MSE calculator suggests that I'm around 90% likely to be accepted for an application of this amount.
I know lenders ask for a purpose for the application - but in this case it's both home improvement and car purchase. So, my question is, how do I approach the application? Do I state one of the purposes in the application, try to contact the lender to state both purposes, or should I make two separate loan applications for the two purposes. Is there any advantage to one of these approaches over another?
Thanks...
I know lenders ask for a purpose for the application - but in this case it's both home improvement and car purchase. So, my question is, how do I approach the application? Do I state one of the purposes in the application, try to contact the lender to state both purposes, or should I make two separate loan applications for the two purposes. Is there any advantage to one of these approaches over another?
Thanks...
0
Comments
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If you can't put both, just choose one.0
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I would use home improvements, this looks more favorable to bank then a car for a high value loan0
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Okay - thanks!0
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The car purchase is the bigger amount. I'd put that.0
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