Mortgage application with existing loan advice please

Davenewcastle

Hi
In September last year I took out a personal loan over 5 years. I have been advised by a Mortgage Adviser that I could get a Mortgage with them if I had a 15% mortgage deposit. Basically they said my rating wa B which means good to them but that I would need to be A which was Excellent. In order for them to be able to give me a mortgage with a 10 or 5% deposit. After some checks by the adviser and his colleague they felt it was due to how soon it was since my loan started as they couldn't see anything in my Experian credit file that would knock my rating with them down. Could anyone advise if there is a certain length time you should wait to apply for a mortgage after taking out a loan please? I realise that it could just be a problem with Lloyds and intend to speak with a mortgage broker I would just be greatful for any help. Thanks in advance for any replies. Dave

FunkyMissMonkey

I would talk to a broker. I'm in a similar position and have gone through application with no issues regarding my loan.

amnblog

You are looking at a tulip and assuming all the flowers in the garden will look the same.


Speak to the Head Gardener.