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Will mortgage lender ask me about old loans
Mavrou
Posts: 2 Newbie
In January I payed off a £10000 loan. Over 12 months. I payed everything on time and never missed a payment.
If I was to apply for a mortgage now. Will the mortgage lender ask me about the loan?
If I was to apply for a mortgage now. Will the mortgage lender ask me about the loan?
0
Comments
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Highly unlikely - Debt repaid with no issues is of no concern to a Mortgage lender. I suppose potentially perpetual borrowers may raise some eyebrows but I've never seen it happen.
Good luck with the app
Cal0 -
Much appreciated you've put my mind at ease !0
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What is your payment record like before the twelve months you mention?
Did you have a record of late/missed payments before then?
Your credit history will show lenders your payment record for six years and the last twelve months is not looked at in isolation.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
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