A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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.