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Loan
shoebp12
Posts: 89 Forumite
Hi im in the process of a remortgage hopefully done in the next few days. i went to find out about a loan and it went from around 7% apr to 16% never knew fully about the representative apr. whats your advice about how long after that rate will go down and if i want a loan as soon as ive completed the mortgage whats the best option.
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Comments
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Do you mean that 7% was just the representative APR?
or that you previously had a quote for 7%?
Its generally advised not to make any loan applications just before a mortgage/remortgage as the mortgage lender will likely check your file again and have been known to pull a mortgage deal.
Once the mortgage is completed then if you want to apply for a loan you would need to see what rate you are offered. Its impossible for anyone to advise whether you are realistically likely to be offered close to the representative rate without knowing your financial situation.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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