We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Will loan affect remortgage application
sparko
Posts: 10 Forumite
Hi
I'm thinking of taking out a 20K secured loan to sort out my debts.
What I want to know is if that will count against any equity in the property (outstanding mortgage 119K, value of property 132K)when we look for a new deal next year as the fixed rate will come to an end.
Thanks
Mike
I'm thinking of taking out a 20K secured loan to sort out my debts.
What I want to know is if that will count against any equity in the property (outstanding mortgage 119K, value of property 132K)when we look for a new deal next year as the fixed rate will come to an end.
Thanks
Mike
0
Comments
-
Yes i believe
The new lender will want 1st charge and need to give permission for the secured loan also
Could you not wait til end of fixed deal and do remortgage - 125% available and better rates usually0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards