1.2.2 Liabilities
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A high gross income may look attractive, but for the ability to
service the loan the lender is looking for unallocated 'free' income.
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Similarly, the lender may be looking for a history of stable credit
repayments.
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Generally, the point of investigation is to review the overall
financial stability, and so the lender will need full disclosure
of:-
- Outstanding balances on overdrafts, credit cards, etc.
- Unpaid bills.
- Loans - amounts outstanding, term, purpose, payments.
- Hire purchase agreements.
- Maintenance payments.
- Any other regular commitments on incom
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