Loan to buy property abroad
Options
Hello
Just about to take a loan to buy an apartment abroad. The bank gives me with good APR 3% as I am satisfied. But they say that I can not buy property with this loan. But I can spend money wherever I want. Can they track them down or else I'll spend money?
For example: I am borrowing money for holidays but i will buy an apartment
And what would happen if I did?
Cheers
Just about to take a loan to buy an apartment abroad. The bank gives me with good APR 3% as I am satisfied. But they say that I can not buy property with this loan. But I can spend money wherever I want. Can they track them down or else I'll spend money?
For example: I am borrowing money for holidays but i will buy an apartment
And what would happen if I did?
Cheers
0
Comments
-
Potential fraud case.0
-
If you have stated the reason as purchasing a property abroad the loan will be declined.
If you state another reason for the loan then go ahead with the original reason then post #2 is spot on.0 -
It will never be a problem as they don't come knocking on your door to see what you bought.
You will only ever get caught if you default on the loan, even then there is a slim chance they will be able to do anything about it as you can just say it wasn't used for that.0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards