Loan amount
Cards & borrowingThe total sum you borrow from a lender.
Overview
Your loan amount affects monthly repayments and total interest.
Lenders consider affordability when setting the maximum amount.
Why it matters
- Higher amounts increase repayment costs.
- It affects affordability checks.
- It changes the total cost of credit.
FAQs
Should I borrow the maximum amount offered?
Not always. Borrow only what you need and can afford to repay.
Does a larger loan affect my score?
The amount can affect utilisation and affordability, which can influence score and decisions.
Related terms
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