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The phrase 'loan accepted in principle', is commonly used by companies which use very basic underwriting criteria for the first stage of the application process. Some companies will say you are accepted if your over 21, employed, and have a direct debit facility. This in no way means that you are accepted, they may even charge you an up front fee to continue with the process.
Not until you have a firm offer of a contract stating your loan amount, monthly repayment etc must you consider you have had your loan accepted.
If you wish to get any further info please leave a reply here or on www.findingaloan.co.uk
Thanks
Paul
Wiki User
∙ 14y ago
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What does accepted in principle mean on a loan?
intrest
What is the meaning of principle on a loan?
The base amount of the loan - not including interest That is the principal of the loan not the principle
If my Loan application has been accepted by the underwriting department have i got the loan?
If the loan application has been accepted by the underwriting department, it usually means you have been approved for a loan. Until the paperwork is signed, a loan offer is not final.
When they say congratulations you have been approved in principle for your loan mean?
If you are told that your loan has been approved in principle, it means that they expect to give you the loan that you have requested, but they still need to do a few more things, a bit more paperwork, questions, or whatever, before the deal is actually done.
An accepted or professed rule of action or conduct is?
A principle.
What does accepted in principle mean on a loan?
intrest
What is the meaning of principle on a loan?
The base amount of the loan - not including interest That is the principal of the loan not the principle
If my Loan application has been accepted by the underwriting department have i got the loan?
If the loan application has been accepted by the underwriting department, it usually means you have been approved for a loan. Until the paperwork is signed, a loan offer is not final.
What is the definition of belife?
"belife" is gibberish. -You may mean 'belief' which means a principle, proposition, idea, etc., accepted as true
When they say congratulations you have been approved in principle for your loan mean?
If you are told that your loan has been approved in principle, it means that they expect to give you the loan that you have requested, but they still need to do a few more things, a bit more paperwork, questions, or whatever, before the deal is actually done.
An accepted or professed rule of action or conduct is?
A principle.
Is the base amount of a loan the principle or the principal?
The principal.
What is the definition of 'loan repricing'?
When a loan matures, the principle of the loan is repaid and lent at a potentially new rate, hence the term "repricing."
What is the amount of a loan before adding interest and fees?
The Principle.
The amount of a loan is called the what?
The main loan amount is called the principle. The amount charged monthly for the loan is called interest.
Is bank loan an asset?
A bank loan is an asset for the bank as bank receives interest and principle payments from borrower.
What word means money paid for a loan?
That is called interest, the main loan amount that you borrowed is called the principle.
