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Business loan and mortgage clash
Bertie_the_third
Posts: 27 Forumite
My husband's business loan is being processed at the same time as our mortage application (by the same bank). Does anyone know if the business loan affects our total borrowing limit for the mortgage or just the affordability calculation? The business loan is a GP practice buy-in and won't affect our income as is already factored in to his current salary.
Any advice would be greatly appreciated!
Any advice would be greatly appreciated!
0
Comments
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Impossible to say without knowing an awful lot of detail.
As a matter of course I always insist clients process personal and business finance non simultaneously as the potential permutations of one affecting the other are something approaching an infinite number.0 -
Thanks Conrad- very useful to know its not a straight forward situation - I'll have a chat to the bank:eek:0
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