ULTIMATE LOAN SUPERVISOR

A secured loan application is divided into many sections. One part of the secured loan application is regarding the loan details. The amount of money required, the repayment term required and the objective of the loan is the essential information.

Another part of the secured loan application is information regarding the first applicant. The secured loan application demands the forename, surname, date of birth, address, city or town, postcode, home telephone number, work telephone number and email. If the applicant has resided for less than 3 years at the present address, then the secured loan application requires the previous home address and postcode. Further, the secured loan application needs the address of property used as security if it is different from the home address.

Information whether the property is owner occupied or tenant occupied is necessary.  The annual rental should be input. Then, the secured loan application provides several options for the type of property. These are house, flat, marionette, shop and bungalow. In case the property is a flat, the number of floors in the building has to be mentioned in the secured loan application. In case the property is a house, the secured loan application offers several options like terrace, semi-detached and detached. Then, the secured loan application asks for the number of bedrooms, presence of garage, property value, date of purchase of property, number of years for which the property is owned. The secured loan application also has fields for the name of the mortgage lender, monthly mortgage payment and amount of outstanding mortgage. The secured loan application enquires regarding the name of the bank, the number of years and months for which the person has the account, presence of any arrears, time of any arrears and presence of any other loans.

The secured loan application has a section for the second applicant. Here, there are fields for the forename, surname and date of birth.

The secured loan application demands for details of the employment of the 1^st applicant. This consists of the name and address of employer or self employed, postcode, occupation, years and months in current employment and monthly income.

The 2^nd applicant employment details of the secured loan application has the following fields – name and address of employer or self employed, postcode, occupation, years and months of current employment, monthly income, name of the bank and duration with the bank.

The secured loan application has a payment protection sub-part, which is optional, but useful for peace of mind and security. There are two options – first is accident or sickness or redundancy. The second is life cover. If these options are selected, a quote is supplied.

Sometimes, the loan application form is rather simple and includes the following mentioned fields. One country out of the United Kingdom and the United States is chosen. The status may be homeowner, council tenant, MOD tenant, with parents, housing executive, private landlord, agency rental, living with friend and housing association. The loan amount, purpose of loan, property value, and mortgage outstanding is asked for. The personal details include the first name, last name, date of birth, marital status, and annual income of household and employment status. Then, the contact telephone, any other number, full address and postcode are demanded.