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Additional loan added to mortgage
issy0503
Posts: 60 Forumite
I would like to borrow some money for home improvements, I thought I might ask my current lender Santander for an extra £10.000 on my small mortgage, I am self employed and need a SA302, I actually dont think I earn enough (6.000) last year topped up with WTC . But if I apply and am turned down, what happens? do they look at my existing mortgage and question how I can pay it ?
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Comments
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No. If they declined the additional borrowing, your existing mortgage continues unaltered.
At the income you've disclosed, there's little point applying, I'm afraid.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Yeah lol, thanks, I thought it was pointless !!
I have a leaky roof and am worried, but hey ho.0
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