Reason for loan
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Does the 'reason' for a personal loan have any impact on the application? eg car loan versus home improvements.
A few of the sites Ive looked at seem to offer a slightly different final rate depending on the reason for the loan.
(Im taking out a small loan to repay a family member some money from when I bought my own house (she helped with solicitor costs etc) and it would be nice to have a bit over for wall paper etc.)
A few of the sites Ive looked at seem to offer a slightly different final rate depending on the reason for the loan.
(Im taking out a small loan to repay a family member some money from when I bought my own house (she helped with solicitor costs etc) and it would be nice to have a bit over for wall paper etc.)
0
Comments
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Yes - reason is used as a risk criterion.0
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Deleted_User wrote: »Yes - reason is used as a risk criterion.
Thanks - that would explain the different rates then.0
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