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What purpose for loan do i state?

edited 30 November -1 at 1:00AM in Loans
25 replies 3.1K views
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  • foxy-stoatfoxy-stoat Forumite
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    Just put down what your current salary is, your suppose to answer all questions honestly or you will be obtaining funds by deception. If you want to lie then you will run the risk as previously stated. Up to you. If you think it isn't fair that you cannot put down your projected salary then dont ask the lender for their money, wait until your salary goes up - their money, their rules.
  • Willing2LearnWilling2Learn Forumite
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    Just to add that you will be signing your name on a legal document when you submit your credit application. I believe your signature is a declaration that the application is accurate, truthful and without omission. Just put down your current income. You don't want to be doing anything that could go pear-shaped.
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  • benbay001benbay001 Forumite
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    Thanks all. I just submitted an application with tesco, stating my current salary, rather than future.
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  • benbay001benbay001 Forumite
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    I have heard back from Tesco and i was offered 6.6% apr.

    Im not happy with this and would like to try another lender.

    Can i apply straight away? Assuming the eligibility calculator says im likely to get it? Or will multiple applications in a week do significant harm?
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  • DCFC79DCFC79 Forumite
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    benbay001 wrote: »
    I have heard back from Tesco and i was offered 6.6% apr.

    Im not happy with this and would like to try another lender.

    Can i apply straight away? Assuming the eligibility calculator says im likely to get it? Or will multiple applications in a week do significant harm?


    I personally wouldn't do more than 2 in a week, it could make you look desperate.


    Depends what the eligibility calculator says, if it says you could be offered a lower then yes give it a try but use the same info you gave for the first application.
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