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Corsa Sport » Message Board » Off Day » House Day » Question on loans » Post Reply
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deano87 |
posted on 16th Nov 13 at 16:07 |
If you need the stop gap, what value are we talking? A credit card on 0% may be a better option?! | |
Wrighty |
posted on 14th Nov 13 at 20:32 |
no worries i wont have any loans at the same time as a mortage, like i say its gonna be paid off within weeks was just wondering if either would look better or worse. seems it dont really matter! | |
ed |
posted on 14th Nov 13 at 20:14 |
Typically the banks will take your outstanding loan balance and deduct it from the amount they will lend you in a mortgage. I've run into this issue with my applications so I'm having to stump up a higher deposit to reduce the monthly payments (despite everything they've quoted me so far being significantly less than what I'm paying in rent :facepalm: ). I guess they've got to be careful with who they lend to and other people's circumstances may give them different results. | |
Toby |
posted on 14th Nov 13 at 19:05 |
As Kyle mentioned your affordability is not the banks affordability. | |
Kyle T |
posted on 14th Nov 13 at 17:50 |
A loan is only going to hurt you come mortgage time if: | |
Rob_Quads |
posted on 14th Nov 13 at 15:55 |
You may well find that the best way to do it is a loan over a longer period that has a lower APR but no repayment penalties. | |
fred7 |
posted on 14th Nov 13 at 11:45 |
Any type of credit shows up on your credit. All credit is good as long as its paid back on time with no problems. Defo want some up to date credit on your file for a mortgage because shows u can handle it still. To do with loan go to who ever offers u the most for less. Tesco etc usually good if u have good credit | |
Ben G |
posted on 14th Nov 13 at 03:25 |
As long as the loan was paid off in full then I don't see how it could look bad? | |
Wrighty |
posted on 13th Nov 13 at 22:31 |
Im about to take out a loan for a new daily motor but just wondering where would be better to get one from, heres my situation. |