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Getting a Morgage with a Loan
harding1985
Posts: 224 Forumite
Hi all,
Quick question for you lovely people, Will having a loan effect the amount of money we could borrow?
I have around a year left on my loan, we have no problems staying at home until its been fully paid off.
Just wondered if it effects it at all
Cheers
Lee
Quick question for you lovely people, Will having a loan effect the amount of money we could borrow?
I have around a year left on my loan, we have no problems staying at home until its been fully paid off.
Just wondered if it effects it at all
Cheers
Lee
0
Comments
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It will affect it to some extent (lenders will assess the affordability of the mortgage) but unless it's a huge part of your outgoings it should be fine.0
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Some lenders discount a loan if it only has a small period left to run. I think, though I may be wrong, that Nationwide don't count loans with less than 6 months remaining.0
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