morning. I recently applied for a loan with a bank who I already have a loan with. I thought I'd been refused this(but wasn't)! so I applied with a building society. I didn't want to apply again because it can make you look desperate, however, the 2nd application was approved & paid to me before the 1st one was approved. I would very much prefer the 1st loan as the apr is far better than the 2nd but the funds have already been used. if I take out the 1st loan & have that sat in my bank account,can I then cancel the 2nd loan,which was approved on 27/03 & use the funds from this for the 2nd loan, or will the building society know in any way that the loan amount I no longer require isn't what they paid to me?