Desperate for advice

PCH83

Hello.
I am desperate for some advice and i am hoping somebody can help me. Around 5 weeks ago me and my fiance were approved for a mortgage on our first house. Our deposit is due in two weeks. The problem is a family member has let me down in a big way, therefore i am 3k short of my deposit. My only option is to take out a personal loan. I am worried sick though that the mortgage company will find out and withdraw the offer. Could that happen or will the mortgage company not know i have taken out the loan ? Any feedback will be greatly appreciated. Thanks.

PCH83

Anybody, please ?

switched_off

Moral issues aside, who are you with?

Secondly, how much did you borrow compared to your income?

VIGILANT22

switched off........you're forgetting to ask about liabilities...you really are naughty!.........

PCH83

our mortgage will be 77000. We could have borrowed up to 108000.

switched_off

VIGILANT22 wrote: »

switched off........you're forgetting to ask about liabilities...you really are naughty!.........

Yes, don't leave me alone with your wallet laying around

VIGILANT22

PCH83 wrote: »

our mortgage will be 77000. We could have borrowed up to 108000.

PCH83;Have you gone through a mortgage advisor?

switched_off

PCH83 wrote: »

our mortgage will be 77000. We could have borrowed up to 108000.

I would say that even if you declared the new loan you get it re-offered?

Its not unheard of for a mortgage lender to rescore you before the offer is released. I have heard of this with high LTV cases.

PCH83

Yes. We were reffered to one through the housing company Keepmoat. The repayments of the loan would in no way effect our ability to pay the mortgage. I'm worried they will ring me up saying the offer is being withdrawn because i have been dishonest.

switched_off

PCH83 wrote: »

Yes. We were reffered to one through the housing company Keepmoat. The repayments of the loan would in no way effect our ability to pay the mortgage. I'm worried they will ring me up saying the offer is being withdrawn because i have been dishonest.

Speak to your broker and see who they have used what they think the view will be. the key is that it remains affordable and this sounds as if it will.

PCH83

"Its not unheard of for a mortgage lender to rescore you before the offer is released. I have heard of this with high LTV cases" Do you mean in cases with big mortgages ? Our 5% is part of the 85/15 scheme.