Apply for loan before or after moving house?

adamg02

Hi hoping someone can help,

My sister is close to completing on her first house, she needs a little extra cash to help with the renovation costs etc and so needs a managable unsecured loan.

Currently she is living at parents home - mortgage offer and survey has been done all fine etc, should just be a matter of weeks before completion.

Does it make any difference to either the loan or final mortgage stages if she applies before or after completion (so I guess applying with the new address, or with her (parents) existing address ).

Thanks

CLAPTON

she would be mad to put her mortgage offer at risk by applying for a loan before completion and the money paid

SeanG79

I would agree with CLAPTON on this!

adamg02

ok thanks guys, fully noted !

Tixy

Once she has moved, she would be best advised to switch all her bank accounts /credit accounts to her new address, and get on the electoral roll first before she tries applying for an unsecured loan.

Even with those things potential lenders may be wary for a while after she has just taken a new mortgage commitment.