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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
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