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How overpaying a bank loan affects mortgage application
taylor86
Posts: 135 Forumite
I have a bank loan in joint names through natwest. This was taken out last September to settle a high APR car loan and also raise a few thousand for home improvements. We are now selling the house and want this loan cleared for mortgage purposes before we sell up. We could make small overpayments every month to reduce the monthly payment or sell the car which would give us about 8k and buy a banger and pay a lump some off the loan.
Any thoughts? Just throwing ideas around at the moment. Settlement fig given today was £9702
Any idea how these options would affect a mortgage application?
Any thoughts? Just throwing ideas around at the moment. Settlement fig given today was £9702
Any idea how these options would affect a mortgage application?
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