Don't risk before completion???

ruggedtoast

AFK_Matrix wrote: »

I really don't understand the need for people to get new cars as they loose money instantly. Why not get a second hand car for a decent amount, maybe 1-3k which I assume would be a smaller loan than a new car would be and if your worried about warranty there are plenty of ways to buy warranty for it if your that worried.

Well why don't you buy a second hand tv, or a second hand microwave, or a second hand fridge; or second hand sheets and a second hand bed to sleep in. And then in the morning you can get out of your second hand bed and put on your second hand underpants and go and brush your teeth with a second toothbrush?

Eh?

That's why people buy new cars.

Personally I would like a new car because I want to sit in the drivers seat for the first time and know with absolute surety that no one before me has ever farted on it.

richardw

New cars get driven by others before you do so there is no "absolute non fart surety".

poppy_f1

god when i was waiting for my mortgage to go through i wouldnt even risk using my credit card in case things went wrong let alone try and get a loan

ruggedtoast

richardw wrote: »

New cars get driven by others before you do so there is no "absolute non fart surety".

What?

That can't be right. You pay thousands over the odds for a car and it may still have been farted in?

richardw

ruggedtoast wrote: »

What?

That can't be right. You pay thousands over the odds for a car and it may still have been farted in?

Same as

"You pay thousands over economy to fly first class and it may still have been farted in"

ruggedtoast

I presumed that farting was banned in business class, and all the cabin crew and what have you just waited til they got to economy to let rip.

DominicJ_2

Well why don't you buy a second hand tv, or a second hand microwave, or a second hand fridge; or second hand sheets and a second hand bed to sleep in. And then in the morning you can get out of your second hand bed and put on your second hand underpants and go and brush your teeth with a second toothbrush?

If I could buy a 6 week old TV for 30% off by god I would!

ruggedtoast

DominicJ wrote: »

If I could buy a 6 week old TV for 30% off by god I would!

Not if you knew that someone had been blowing off on it every day you wouldnt.

JimmyTheWig

Yes, it's risky. They might refuse the mortgage.
If this refusal happens between exchange and completion then you are in big, big trouble.

How long until completion? Can you wait that long?

Does anyone know if it would be safe to contact the mortgage company and ask them if it would be ok? I.e. if the OP is ok in terms of borrowing levels and affordability then it shouldn't be a problem to get a mortgage with an existing loan. Would the mortgage company be able to confirm that beforehand, or would that still be unwise?

ruggedtoast

JimmyTheWig wrote: »

Yes, it's risky. They might refuse the mortgage.
If this refusal happens between exchange and completion then you are in big, big trouble.

How long until completion? Can you wait that long?

Does anyone know if it would be safe to contact the mortgage company and ask them if it would be ok? I.e. if the OP is ok in terms of borrowing levels and affordability then it shouldn't be a problem to get a mortgage with an existing loan. Would the mortgage company be able to confirm that beforehand, or would that still be unwise?

I really wouldn't go there. Who knows if that would flag something up with the underwriters. They have no idea when you've exchanged or anything either.