We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Reason for loan
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
-
Yes - reason is used as a risk criterion.0
-
Deleted_User wrote: »Yes - reason is used as a risk criterion.
Thanks - that would explain the different rates then.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards