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Mortgage advice needed!!! Car finance or not?

kat1609
kat1609 Posts: 1 Newbie
edited 28 January 2013 at 8:55PM in Mortgages & endowments
Hi there

I am looking to apply for my first mortgage in the next couple of months... exciting stuff!

Before that I need to get myself a new car as mine has inconveniently decided to stop working this week.

Now my question is... what will be the better option for me in regards to my mortgage application? Should I use some of the money I have saved (for house deposit) and buy a car outright with no finance? Or should I get the car purely on finance and leave my savings alone? I am happy to go with either option I just want to know if either option will hinder my mortgage application.

Thank you in advance for any advice you can give me x

Comments

  • Let_Us_See
    Let_Us_See Posts: 1,319 Forumite
    edited 28 January 2013 at 9:45PM
    No real details in your post, so difficult to comment. However, if you do buy a car then the commitment will be deducted from income when assessing affordability and borrowing capacity.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Why % deposit do you have?
This discussion has been closed.
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