loans on bank statements

[Dimitri]

Hi everyone,

has anyone had a situation where his bank statements refected a loan taken from a bank, i.e. its clear from the statements sumbmitted with the tier 1 application there is a monthly direct debit for a loan taken on that account.


please advise

thanks

[alimohmand]

it does not matter as long as you have the required funds if using that statement for Maintainance funds.

[Dimitri]

Thanks for your reply alimohmand.

Are you positive one can make use of a loan for maintainance funds?

[alimohmand]

As long as you have the required funds you are fine it does not matter if money is from the loan.
As long as you have it in your account for upto 3 months before your application and during your application.

[Dimitri]

Understood thanks.

Does the HO check bank accounts during the application process? How will they know the account balance without bank statements ie after the application is submitted?

[alimohmand]

They can contact bank and verify your current funds and also cross check previous balances on random selection of dates

[Dimitri]

Thanks for your helpful replies alimohmand.