Getting a Personal Loan

[puttfordough]

what is the best institution to get a loan from at the moment or does it depend with your history with that bank?

am looking to get out a loan for some home improvements and other items. Do bnks look for receipts for items purchased as don't plan to use full amount of loan approved on same?

 

[seantheman]

Have a look here http://www.itsyourmoney.ie/cs_group_personal_loans.htm

 

[puttfordough]

thanks for that sean.

any idea how much receipts banks are looking now for expenditure?

 

[so-crates]

Didn't think banks looked for receipts on how you've spent your money.

 

[fizzelina]

I never heard of bank looking for receipts. A credit union may ask though, all the CU's vary. Mine asked me for the invoice from the garage when I got a car loan.

 

[puttfordough]

the banks are entitled to know what you spent the money on under the Consumer Credit Act and can request documentation. If you use it for a different purpose they can seek full repayment of the debt outstanding.

 

[Renter27]

I never heard of bank looking for receipts. A credit union may ask though, all the CU's vary. Mine asked me for the invoice from the garage when I got a car loan.

Really ?? !

 

[fizzelina]

Really ?? !

Yes they did! The loan was at a special interest rate of 6.99% though which they were giving out as a special car loan rate so they wanted the invoice to show it had been spent on a car.

 

[Renter27]

Ive never heard of that ! Maybe it was because you were getting the special loan rate - lucky you werent buying the car from a bloke down the pub , doubt he'd issue receipts !

 

[so-crates]

Not unusual with Credit Unions. I have seen that in a couple of places. They have a specific lower rate for borrowers buying a car but they require evidence it is for a car before they release it.