Factors Lenders Take Into Account
Being rejected is not nice but many banks and financial institutions say that they are responsible lenders. What does this mean?
Well they take into account factors such as:
- your relationship with the bank to date
- your income
- any existing debts
- your credit reference may also be checked
Clearly if you have a good record and a good income then you are much more attractive than someone who has no job and a bad record. Banks want to lend to those who will pay the money back - when it comes to personal loans - so if you don't get loans then your credit rating is probably quite low.