IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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will taking out a loan affect my re mortgage in anyway?
good or bad?
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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quote:
Originally posted by IvIarkgraham
will taking out a loan affect my re mortgage in anyway?
good or bad?
taking out at the same time is not ideal imo
can i ask for more info? why take out the loan?
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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i am taking out a loan now! for a car
mortgage is due in february
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Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
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yes, it will have an effect on your mortgage, but in the past it hasn't been too bad an effect
Not sure with the way things are now.
Basically what they say is find out what mortgage you can get from your salary and then deduct the amount of the loan
So say on your salary you could get a 100k mortgage, and you take out a 10k loan, you could then only get a 90k mortgage
That is just a general rule though....might not always be the case
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Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
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If you get your new mortgage approved and then take out the loan, there will be no effect
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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i would wait till after the mortgage, only a few mths
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Wait til Feb/March, you'll get an even better deal on a car than you will now + the mortgage will be in the bag. 
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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but the thing i want the loan for isnt readily available
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