bugaboo
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They don't care as long as you pay it back with interest.. |
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j2frw
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that is fraud. Not too bad if you said it was for a car but used it for a hol but dont think they would be happy you used it to buy property. the property should be used to secure the loan |
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SteveLaw
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Technically it could be considered as fraud. |
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sarah k
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They will never know. Its a bank not the c.i.a. |
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pinkheels01
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people do it all the time |
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alatoruk
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heck, when I wanted a £15,000 loan to start my own business by bank manager recommended putting down it was for a car because it would be easier for him to approve then. |
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leambi
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As long as you dont default the payments then there shouldnt be an issue. |
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SonoranAngel
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Depends on who your getting a loan from. If you go to the bank and tell them what it's for, they don't really care, they just care if your credit worthy and if you'll pay it back. If you get some sort of school loan and don't use it for that purpose you will have to pay it back and chances are you've blown the chance at another loan if you don't use it for that purpose. Some loans are given that provide for some of it to go for living expenses. If you get a loan for school don't you need to show that you registered for classes? Some loan companies send a check right to the school. |
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Schuutz
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Why don't you just apply for a mortgage??? |
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Peter R
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Up to your conscience, just make sure you can keep up payments, and read the small print. |
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Duffer
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Aside from ethical issues, you wold be mad to buy property this way - the interest payable is far more than and buy-to-let mortgage, and thus the repayments would be more. The maximum term for repayment would be severely limited too. Talk to a proper mortgage broker for advice. |
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Jen Jen
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Unless it's a government loan most banks don't care what you actually use it for as long as you make your payments on time!! Good Luck! |
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flikapotamus
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dont think so but mommy told me not to lie.......... |
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Rachel P
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well iv never applied for a loan but i was always under the impression that as long as Ur good for it and u can pay it back then i don't c y they need 2 no wot u intend to spend it on, suppose it all depends on the type of loan company if it's a student loan then they might check up on it i dunno. just a word of warning don't bite off more than u can chew, i.e don't borrow more than u can pay bck, good luck try not 2 b one of the thousands that get in2 debt. |
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SkEgY
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Yeah you are fine, but if it gets to court (if you cant pay it back) then you will face jail. |
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