Will there be an issue getting a mortgage?

simonneil1981

Hello,

I am thinking of taking out a loan of 10k with the bank. My credit is perfect and I dont see me having any problem doing this however im wondering if i wanted to get a mortgage in say the next few years will getting this loan affect it in anyway or will it just boost my credit if the repayments are made on time etc?

Thanks in advance

Simon Neil

Skinto_7

Could do both dependant on the mortgage you go for.

Having credit and paying it off on time will help boost your credit rating, however Mortgages are judged on your income/outgoings and affordability.

In theory as long as you can prove you can afford all your commitments (including the loan payments) then it shouldnt adversely affect any future mortgage application.