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Material fact

A fact that may influence a lender in deciding whether or not to accept or decline a risk or that may affect the affordability of a loan to a customer or the suitability of the loan overall.

Used when talking about information provided by a customer applying for a personal loan.

Any fact which would influence the lender in accepting or declining a loan agreement is material and must be disclosed by the customer.

Sometimes, the question of whether a fact is material or not can be a tricky one for a customer to decide. As a general principle, the lender should ask clear questions about the information which is required from the customer.


A false statement by the customer relating to material facts before acceptance of the personal loan.

Used when talking about applications for consumer credit.

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