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A register check verifies identity rather than suitability
Authorization records can help establish who is permitted to carry on an activity.
They do not assess the circumstances of a borrower considering a particular agreement.
Use matching legal details and check the activity covered locally. Keep legitimacy, product terms and personal suitability as related but distinct decisions.
Prepare your application document list
Definitions
- Total repayable
- Sum payable under the stated schedule and its assumptions; contingent charges and changes must be considered separately.
- Amount received
- Money actually made available to the borrower, which can differ from the stated loan amount if a charge is deducted.