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Applying for a Personal Loan after just moving house

jonomassey
Posts: 127 Forumite
in Loans
Hi,
I need to apply for a loan to consolidate my debt of around £12k. This will save us in the region of £150 per month in payments we are making on credit cards. We have just moved house and have got a new mortgage with the Abbey (santander) and I also bank with Santander so was going to apply with them. What do you think the chances are after just moving house?
My experian credit rating is 954 and my wifes is also 954 and we have no other debt except the credit cards and our mortgage.
Thanks
I need to apply for a loan to consolidate my debt of around £12k. This will save us in the region of £150 per month in payments we are making on credit cards. We have just moved house and have got a new mortgage with the Abbey (santander) and I also bank with Santander so was going to apply with them. What do you think the chances are after just moving house?
My experian credit rating is 954 and my wifes is also 954 and we have no other debt except the credit cards and our mortgage.
Thanks
0
Comments
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you would possible need a joint income of 48k to do this,thats the 12k you owe now plus the 12k you want to borrow = 24k,double that is 48k
they wont take into account that you plan to repay other debt after all you might not or even if you do you might run it up again0 -
jonomassey wrote: »we have no other debt except the credit cards
If you need to consolidate so soon after a mortgage offer then the only way is down.0 -
We are currently paying around £400 per month off credit cards which have an interest rate of around 16.9% and the loan we are looking at would be £240 per month over 60 months at a interest rate of 7.4%. Our combined income is around £45.5k and so I thought it might be easier to get a loan than applying for 0% Balance transfer credit cards. When we moved house and got our new mortgage our financial advisor advised us to consolidate our credit cards with a loan and to then cancel the credit cards which we intend to do.0
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jonomassey wrote: »... and to then cancel the credit cards which we intend to do.0
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