Will a personal loan affect my mortgage offer

plantboy2

Hello

I've got to the point of signing contracts for my mortgage with Nationwide. I am moving to the country and need to buy an additional car for the commute and will need a personal loan to do this.

If I take out the loan prior to my mortgage being issued, does Nationwide have any way of knowing this and is it likely to negatively affect the progression of my mortgage at this stage?

Thanks

kingstreet

Yes. Credit checks can be carried out right upto completion, so standard advice is no new credit between application and completion.

If it appears you can no longer afford the mortgage due to the loan commitment, your offer would be reduced or withdrawn.