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What is usually checked during a loan application?

Most lenders will have stringent affordability checks for the benefit of both the lender and the borrower. We’ve decided to delve deeper into what is usually looked at when applying for a loan. 

Watch out for the credit requirements 

Lenders will firstly consider your credit score as soon as you submit your application. They will be more interested in going through your credit history, especially in case of a personal loan. Any applicant that doesn’t match the criteria usually gets automatically disqualified. 

A strong credit score is not the only guarantee for approval. Your loan request will get rejected if you miss out on any requirement posed by a lender. It’s better to do some research or ask the lender straightaway. 

The requirement for a minimum income 

Some lenders always look out for the minimum income requirement. You can usually find this out by visiting the lender’s official website or you can call them to find out the exact obligation. Lenders will not provide you with a loan if you do not have the financial backup to repay it. 

Employment requirements

People with a stable and high earning job are more likely to get approved for a loan. You may have to verify this such as sending your latest payslips – but each lender’s verification methods may vary.

Collateral requirements 

Depending on the type of loan you’re applying for, you may need to have sufficient collateral to back it up. Banks for example will usually go for a property or other assets of high value.

Settle your outstanding debt

The DTI ratio (debt-to-income ratio) can be a game-changer for you. The majority of lenders treat it as seriously as the income requirement. A soaring DTI means that most your income is used in paying debts. Settling your current debts before applying for a loan could greatly increase your chances of being approved.

Provide legitimate details 

You should always provide authentic information about your past and current details. A lender will instantly reject your application if any element is missing or if you have been found to being untruthful.

Have a solid loan purpose 

Some lenders will want to know the reason you are taking out a loan. For example, it could be deemed irresponsible if a lender provided a loan for personal luxuries such as a holiday rather than an emergency bill. Responsible lenders of short term and quick loan will be more cautious of this.

To summarize, it’s always important that you be completely honest in your applications for any form of credit. If you’re dishonest, this could breach your contact and end up being more damaging in the long run. Lenders have criteria that have to be met by all applicants for a reason – and it’s usually mutually beneficial as it means the lender is more likely to be repaid but it also limits the chances of the applicant facing financial difficulties in the future if they’re unable to repay.

BT TV vs Sky TV – The Big Battle

When you are trying to choose the best possible TV deal for you, it is important to consider many different factors. It is essential that you make sure you consider all the best possible outcomes, as well as factoring in what it takes to make the choices that will allow you to benefit from this. You have to consider what it means to get the right TV and how this can benefit you moving forward.

There are a lot of things that play a big role in helping this when it comes to helping you improve your TV choices. BT and Sky offer some of the most appealing TV choices on the market, and this is something you are going to need to consider. When you try to choose the ultimate TV package, one of the best things you can do is to compare what the leading names in the industry can offer you. Here is a comparison of BT TV and Sky TV, and what it can offer you.

Channels

Both of these options come with plenty of channels. Sky has the flagship channels of Sky One and Sky Atlantic, which are renowned for airing acclaimed TV dramas, while BT is the exclusive home of the UEFA Champions League. When you are trying to make the most of the process, there are a lot of elements that will play a role, and it largely comes down to the sort of TV you like to watch on a daily basis. We would suggest that Sky probably has the edge here, largely due to the exclusivity of its channels, as well as the fact that plenty of programmes are only available on Sky.

Technology

Technology is also very important to get right when it comes to assessing the different TV options presented by these two juggernauts. With BT TV you get a YouView box which allows you to rewind and pause live TV, as well as giving you 7 days of catch up options. The Sky Q box also allows you to do all of this, but, as a bonus, you can actually record three separate shows while still viewing a fourth show. This is very appealing for those with busy schedules who like to record things and watch them back at a later point.

Customer Service

Another thing you should factor in when making your decision is the customer service that each of the companies provides. And, in this respect, we would have to say that Sky again has the advantage here. Indeed, according to Ofcom, Sky was the least complained about company for pay TV in 2017, with 1 customer in every 100,000 complaining. BT, however, had the most complaints with 13 in total, and customer satisfaction is something that continues to be an issue for BT.

As you can see, there are a lot of benefits to choosing either of these big players, and they both provide their customers with the best possible services. Do as much as you can to make the most of the ability to compare and contrast these two giants. We would have to give the edge to Sky as an overall TV package, but only just. 

Impressive sporting calendar for London this summer

There is a fantastic sporting summer already under way, and it is getting even better with many events coming to London. From the historic Wimbledon tennis major, to the Ride London events and then back to the non-stop football season, there is something for you to enjoy, or even participate in the capital over the next few months. Just sampling the atmosphere at some of these sporting events can be special, and it will provide you with the chance to enjoy memorable occasions with your friends and family. Continue reading

The Tour by App

Not long ago I was lucky enough to make a trip to London and get the chance to look around at all the beautiful historical sights, take in the banks of the Thames and enjoy a good old fashioned English pub meal. When I realised I would be going I sat down with my map and my laptop and started making plans to make sure I got to see everything I wanted. With just a few days up my sleeve, I knew I wouldn’t see everything but it wasn’t going to be for a lack of trying. Continue reading