Seeing who among the 800,000 rejected people had
loans taken out elsewhere around the same time and monitoring those payments as an outcome is brilliant.
Not exact matches
Your refinanced
loan may be with the same bank or mortgage lender that the broker connected you with when the original mortgage
loan was
taken out, or they may be able to find you a better deal
elsewhere without you having to do all of the legwork of checking all of the lenders that the broker has access to.
If you need a consumer
loan, I personally don't see any downside to looking into a peer to peer
loan — either you are offered better terms (i.e. lower interest rate and fees) than you are
elsewhere and so you
take out the
loan or you aren't and so you go
elsewhere for the
loan.
Some banks and lenders don't allow LTVs over 80 % period, so anyone financing more than 80 % LTV will need to
take out two
loans or look
elsewhere.
Not paying back your
loan on time can affect your credit score, and this will be visible to other lenders in the future, reducing your chances of your approval for
taking out a
loan elsewhere.
Additionally, you can borrow money against the cash value of your whole life insurance policy instead of
taking out a
loan elsewhere.