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  • FIRST POST
    • nix99
    • By nix99 5th Feb 18, 5:30 PM
    • 8Posts
    • 2Thanks
    nix99
    Reason for loan
    • #1
    • 5th Feb 18, 5:30 PM
    Reason for loan 5th Feb 18 at 5:30 PM
    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.)
Page 1
    • zx81
    • By zx81 5th Feb 18, 5:31 PM
    • 17,205 Posts
    • 18,283 Thanks
    zx81
    • #2
    • 5th Feb 18, 5:31 PM
    • #2
    • 5th Feb 18, 5:31 PM
    Yes - reason is used as a risk criterion.
    • nix99
    • By nix99 5th Feb 18, 5:35 PM
    • 8 Posts
    • 2 Thanks
    nix99
    • #3
    • 5th Feb 18, 5:35 PM
    • #3
    • 5th Feb 18, 5:35 PM
    Yes - reason is used as a risk criterion.
    Originally posted by zx81
    Thanks - that would explain the different rates then.
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