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Taking a personal loan for mortgage down payment

Lenders are within their rights to report your failure to repay a loan to one or all of the major credit reporting agencies - Experian, Equifax and Transunion.

This negative record can be reflected on your credit history indefinitely until the loan is repaid in full. After the lenders receive payment in full, they can report it to the credit reporting agencies. We remind that late payment or non-payment of your loan can have negative impact on your credit history.

Some of the lenders in our network may automatically renew your short term loan if it becomes past due. This term is standard bank personal loan criteria identified in your loan agreement.

You should check your loan agreement for your lender's policy on automatic loan renewal prior to e-signing it. If your loan is renewed, there will be additional charges as determined by your lender, and the minimum term can be set up. Your lender may offer you other options in addition to renewal, including the ability to repay your loan in full at a later date or repay your loan over time in a series of installments.

Legal Disclaimer: This website does taking a personal loan for mortgage down payment constitute an offer or solicitation to lend.

Taking a personal loan for mortgage down payment

Protect consumers from dishonest financial methods. Regulate credit systems in the country to ensure transparency and accountability from all parties involved with money lending. Just remember that no matter how desperate your situation is, lenders are by law not allowed to take advantage and try to squeeze as much money as they can from you.

Know your own rights as a credit consumer and help the NCR protect you. Get a National Loan. You can be anywhere in South Africa. Apply online. National loans provide clients with fast loans and we aim to give same day approval.

Taking a personal loan for mortgage down payment