Remortgage with an unsecured loan

rrob

Hi everyone

I'm looking at remortgaging in July, but I'm also contemplating getting a loan of £35k for a new toy (essential toy!). Will this loan (unsecured) affect the chances of me getting at good rate at remortgage time? I've just enquired with my mortgage lender to see if if can tie in to a new mortgage early (I.e. Before I take the loan) just in case.

Many thanks

R

Thrugelmir

Any unsecured debt you owe at the time of application will be considered by the lender. The actual impact, if any, on your application will depend on a multitude of factors.

kingstreet

If you are going back to your existing lender, you are not remortgaging. You are asking for a customer retention product. These are usually offered without affordability or status checks so your loan will make no difference whatsoever.

If you are remortgaging, that is a new mortgage from a new lender to repay the old one, a recent search may impact your application and your affordability will be affected by the loan payments which will be taken into account.