Your chosen field of work reflects your income, personality, level of education and other factors. Well, apparently, what you do for a living determines not only what you can and cannot afford, but also how you are perceived by others, financially speaking. Ever noticed the small field ?Occupation? when applying for any type of store, credit or some kind of bonus point collection cards? Your current employment status and credit history are the major decisive factors for the financial institution issuing you credit. The modest ?occupation? field is also an important factor, allowing lenders to make an educated guess about your future employment status, and your level of job and income stability. While astronauts, for instance, may boast a job in an exciting and prestigious (the adjectives applied are based on stereotypes, hence rather loosely) field, job market for this industry is rather tight, plus there is the typical early retirement taken into consideration by any potential lender. More common-placed professions, lacking perhaps the romantic glamour and the bell-shape top of the income graph, are viewed by credit issuers as more stable, and therefore, more secure.



Administrative workers, or teachers, for example, are viewed as desirable loan applicants. While the income range for these professions is medium, the job market is big, and it is always possible to replace one's job should there be some dissatisfaction with the employment or the employee. Administrative loans are easily available as a result. Loans for teachers are generally not a problem either. Both professions require personal organization, efficiency and great interpersonal skills, and it is logical that administrative loans and teachers loans are handled in a responsible fashion and are repaid on time. The logic behind the general policies of any lender is fairly simple and straightforward: the greater is the amount of the money borrowed, and the more secure the given financial institution feels about being repaid the funds lent in full and in the timely manner, the lower is the interest rate charged on the loan in question.

The interest rates for administrative loans and teacher loans do not actually start ?from 4.7%?. In fact, there are no loans with interest rate starting anywhere near the 4.7% interest rate. If the current bank rate of the Bank of England is 5.5%, it is pure opportunism to advertise the loans at the non-existent loan rates, the magic word ?from? makes such claims to appear less like false advertisement, and gets the applicants, whose application for a loan resulted in 11.9% interest rate quote wondering why don't they qualify for a lower rate. Nobody qualifies for this interest rate. It is non-existent. Administrative loans, and teachers loans (or loans for other similar professions, administrative workers and teachers are used as an example) typically fall within the preferable income range, the one where the applicant's income generally allows to make loan repayment without putting strain on one's monthly budget. If you are looking for a low interest rate loan, your best bet will be a medium-size loan, secured on property. Do your homework, and take advantage of a free loan quote, widely available through the internet. Just don't expect, nor be disappointed if the interest rate offered is not exactly ?from? 4.7%, even doctors and astronauts do not get these rates.