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Mortgage Offer & Loan Paid Early
Evangelion
Posts: 44 Forumite
Hi all, quick question hopefully!
I'm in the process of buying a new build and have had my full mortgage offer from TSB, so we are now going through the process with solicitors.
I currently have a loan with TSB that is due to end before the end of the year, there's about £700 left to pay, and I wondered if paying this off in full now would have any effect on the mortgage?
For info, the property is a new building and will be completed in June, we've had the full mortgage offer now for about 3 weeks so there is still plent of time before it expires.
Any info would be helpful. I don't want the mortgage to end up going back into application stage due to changes to my files.
I'm in the process of buying a new build and have had my full mortgage offer from TSB, so we are now going through the process with solicitors.
I currently have a loan with TSB that is due to end before the end of the year, there's about £700 left to pay, and I wondered if paying this off in full now would have any effect on the mortgage?
For info, the property is a new building and will be completed in June, we've had the full mortgage offer now for about 3 weeks so there is still plent of time before it expires.
Any info would be helpful. I don't want the mortgage to end up going back into application stage due to changes to my files.
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Comments
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A positive change in your credit profile is fine.0
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Evangelion wrote: »I currently have a loan with TSB that is due to end before the end of the year, there's about £700 left to pay, and I wondered if paying this off in full now would have any effect on the mortgage?
If you've received a formal mortgage offer then no it won't.0
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