Who Are Main Banks Lenders?

[Peter54]

I rang one of the Irish banks yesterday who I hold a current account with; to ask them could I turn my existing overdraft into a personal loan so I can clear it off asap. The guy on the phone said they would have to put it by their lenders.

Just wondering who could possibly be the lenders of one of the main Irish banks?

It was also asked would I be in a position to guarantee this relatively small loan with my home - talk about stricter terms and conditions.

 

[Brendan Burgess]

Presumably he means the guys in the head office who make the lending decisions.

The bank charges more for unsecured loans such as overdrafts.

If you remortgage your home, the loan will be cheaper and possibly easier to get.

 

[Deas]

It sounds like you were talking to a customer service/counter assistant. They do not make lending decisions and by lenders the individual most likely meant that he/she would have to talk to a lending specialist/underwriter who would be based in another unit of the bank which specialise in such matters. It's not, from the way you have phrased your question, an outside entity that makes decisions on giving money to the bank to lend to you.