im looking for a loan and have been acsepted
2006-07-24 00:02:29 · 5 answers · asked by martinlostitch@btinternet.com 1 in Business & Finance ➔ Personal Finance
most financial institutions have a set of requirements when applying for credit:
employment
collateral
etc
Different companies will have their own set of guidelines depending on the type of finance and how much it is for.
A decision is made based on the answers you give when applying without checking and personal details such as credit history. This is your decision in principal which will be followed up by credit and employment checks over the next few hours, days or weeks (again depending on how efficient the company is).
2006-07-24 07:02:21 · answer #1 · answered by Daryl 2 · 4⤊ 0⤋
It's also called a Conditional Approval. It means they like what they see so far, but they need a couple more things to be sure they want to go through with the loan. Usually, for a mortgage loan, that means a verification of your employment, making sure you're current on your mortgage at the closing or that your rent's been on time, and a letter of explanation of any financially hard times you might have had or of why you want cash out...there are a million others, that's just a few of the standard conditions.
2006-07-24 15:54:44 · answer #2 · answered by Jonathan S 2 · 0⤊ 0⤋
In principle means that you seem ok but they need to do a few more checks
2006-07-24 00:05:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It means that you appear to qualify, subject to a couple of bits and bobs to check/ complete.
2006-07-24 00:08:23 · answer #4 · answered by ribena 4 · 0⤊ 0⤋
It meants "be yourself. Go for what you want."
2006-07-24 00:14:02 · answer #5 · answered by Nnamsco 3 · 0⤊ 0⤋