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Messy Application?
Options
Hi All,
I need to replace my car and need to either take finance or a personal loan to do this. Probably the latter.
My financial circumstances are fine, and paying it off isn't a concern for me thankfully. However, my application could be a bit confusing / messy and I'm concerned it might mean my loan is declined or effects my credit rating.
For the past 3 years I have lived, technically in my partners home. Therefore although paying my share of the bills / mortgage, I've never been on any of the bills / the house deeds. At the moment we have had a joint mortgage accepted, and our house deeds are with the solicitors to be changed (once completed, mortgage will be released and we will both be on it as the payers!).
As its all still being finalised, I'm technically still not a house owner... but that will change in a month or so. So what do I put on the loan application, should I just fill it in based on my circumstances as they are now?
Another option is to wait until thats all gone through properly? But I've seen the car I want now and I've been looking at it for a reasonable price for over a year now, so hesitant to wait! Although would if it was for the best?
I need to replace my car and need to either take finance or a personal loan to do this. Probably the latter.
My financial circumstances are fine, and paying it off isn't a concern for me thankfully. However, my application could be a bit confusing / messy and I'm concerned it might mean my loan is declined or effects my credit rating.
For the past 3 years I have lived, technically in my partners home. Therefore although paying my share of the bills / mortgage, I've never been on any of the bills / the house deeds. At the moment we have had a joint mortgage accepted, and our house deeds are with the solicitors to be changed (once completed, mortgage will be released and we will both be on it as the payers!).
As its all still being finalised, I'm technically still not a house owner... but that will change in a month or so. So what do I put on the loan application, should I just fill it in based on my circumstances as they are now?
Another option is to wait until thats all gone through properly? But I've seen the car I want now and I've been looking at it for a reasonable price for over a year now, so hesitant to wait! Although would if it was for the best?
0
Comments
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By having a joint mortgage, you become financially joined with your partner for everything.
Provided she has a similar credit file to yourself, it would be better to wait until the mortgage is approved.
There will ALWAYS be another car around the corner."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
poppasmurf_bewdley wrote: »There will ALWAYS be another car around the corner.
And maybe even a cheaper model.0 -
"So what do I put on the loan application, should I just fill it in based on my circumstances as they are now?"
Ask the loan company0 -
some mortgage lenders do a final credit check before they release the funds to ensure no additional credit has been taken out...if they see the additional loan they could pull the mortgage offer
Id wait til your mortgage has fully completed before taking anymore credit
The mortgage board is full of brokers... ask them if its a good idea...0
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