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Loan to cover deposit and fees for new property
Munkey92
Posts: 10 Forumite
Can anyone provide a bit of advice on how to apply for a loan to cover part of the deposit and fees for our new property?
We are first time buyers and have a mortgage (agreed in principle) and the bank is ready to send a evaluator out to have a look at the property.
I have done my application through an independant mortgage advisor. The bank has done a credit check, approved my credit rating but apparently they do a second credit check just before releasing the money. If I apply for a personal loan now, this will show up on my credit score and the bank may not release the funds. Is this true?
Can anyone please provide some solution, how I may get around this?
Thanks
We are first time buyers and have a mortgage (agreed in principle) and the bank is ready to send a evaluator out to have a look at the property.
I have done my application through an independant mortgage advisor. The bank has done a credit check, approved my credit rating but apparently they do a second credit check just before releasing the money. If I apply for a personal loan now, this will show up on my credit score and the bank may not release the funds. Is this true?
Can anyone please provide some solution, how I may get around this?
Thanks
0
Comments
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You can't use a loan for a deposit, no lender will accept it.
No disrespect but if you're feeling a loan is needed, then you can't afford to purchase.0 -
Save, save, save.Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.0
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Maybe look at your own affordability first. We dont know it so it may look like we are pre judging."Banking establishments are more dangerous than standing armies." Thomas Jefferson
"How can I believe in God when just last week I got my tongue caught in the roller of an electric typewriter?" Woody Allen
Debt Apr 2010 £00
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