Getting a personal loan after getting a mortgage

Robj10

I've been accepted on a mortgage and have had an offer on a house accepted . The house needs a lot of work, and although I have money to do most of the essential stuff, I think I'm going to need a further £10k to do the rest properly ready to move in. Will I be likely to be able obtain a personal loan, straight after getting my mortgage? I have an excellent credit score, and earn 27k a year + can earn up to 8k more in overtime/bonuses. My deposit on the house was 15% of the purchase price (£125k) so £18,750. I also have no other debts or bills as it stands other than my phone contract (£40pm).Has anyone else applied for a loan so soon after getting a mortgage and had any troubles or experiences? Any help or advice would be greatly appreciated.Thanks

Robj10

Also, I forgot to mention, my girlfriend will be paying half of the loan with me (if we can get it). Although i dont think there's a way to get a joint loan if your not married? Not sure if theres a way to use this to help the process???(PS the mortgage is all in my name)

CherlokHomes

Robj10 wrote: »

Also, I forgot to mention, my girlfriend will be paying half of the loan with me (if we can get it). Although i dont think there's a way to get a joint loan if your not married? Not sure if theres a way to use this to help the process???(PS the mortgage is all in my name)

You'll most probably have to use broker if one of you have an adverse credit history.

One with bad credit is no different to you both having bad credit.

Robj10

CherlokHomes wrote: »

You'll most probably have to use broker if one of you have an adverse credit history.

One with bad credit is no different to you both having bad credit.

We're not sure what her credit is, but I think its good if not excellent.I have no issues with having the loan in my name alone. My only worry about that, is that having just got a mortgage, I may not be able to get one?

CherlokHomes

Robj10 wrote: »

We're not sure what her credit is, but I think its good if not excellent.I have no issues with having the loan in my name alone. My only worry about that, is that having just got a mortgage, I may not be able to get one?

Sorry mate I think I've replied to the completely wrong thread as I was replying to someone who wanted a joint mortgage with one having a good credit history and one having a bad credit history.

longtermplanner

It's pretty unlikely. I suggest you do the minimum necessary to move in. Then save up the money you would be paying on debt repayments and do the work in bits.