Jul 10
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Online comments could jeopardise borrowing
Social media profiles could jeopardise future borrowing opportunities, according to online direct lender MyRate.
Coments Online of the borrowing
As part of future eligibility checks, lenders might simply check social media profiles, so be careful which comments you post, said Kevin Sherman from MyRate.
Sherman said employment and income stability are crucial in determining the overall risk buyers pose to lenders.
So comments such as “two more days and I’m outta this place… woo hoo!” may not be well received by the loan consultant, he said.
And contain the excitement of loan approvals, said Sherman, and avoid mentioning that holiday to Prague when you’ve just requested excess funds for the home loan.
Don’t mention anything about the inability to pay bills, as lenders will see this as lack of creditworthiness, he said.
“The number of dependents you have can significantly impact your household living expense assessment: ‘This is a pic of me with my seven children,’ might not be the same picture you painted during your loan application process.
“So think twice before you tweet,” said Sherman, “and don’t say anything you wouldn’t want your employer – or your mother to read – and perhaps in the future, your financial institution.”
