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Hire Purchase Question
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Hi All,
I have 6 months left of a 4 year hire purchase agreement.
I am also about to apply for a new mortgage in the next month or so.
My question is, would it be more beneficial to pay off the HP loan, thereby reducing the amount of debt that I have and making myself look more attractive to lenders, or keeping up with the payments as they are. I'm torn between the positive impact of having less outstanding debt and the potential negative effects of having no recurring payments on my credit file.
Any help would be much appreciated.
I have 6 months left of a 4 year hire purchase agreement.
I am also about to apply for a new mortgage in the next month or so.
My question is, would it be more beneficial to pay off the HP loan, thereby reducing the amount of debt that I have and making myself look more attractive to lenders, or keeping up with the payments as they are. I'm torn between the positive impact of having less outstanding debt and the potential negative effects of having no recurring payments on my credit file.
Any help would be much appreciated.
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