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Can I apply for a loan if I am waiting for my mortgage to complete
I have just exchanged on my first house and have a completion date for 22nd of April.
The house I have bought needs atleast £10,000 of work doing to it.
I have a decent income and don't have many outgoings.
Can I apply for a loan now so that I know I have the money or should I wait until I complete on the house. I worry that if I apply for the loan now and Santander see that I have done so they could retract their mortgage offer?
Any help would be much appreciated.
The house I have bought needs atleast £10,000 of work doing to it.
I have a decent income and don't have many outgoings.
Can I apply for a loan now so that I know I have the money or should I wait until I complete on the house. I worry that if I apply for the loan now and Santander see that I have done so they could retract their mortgage offer?
Any help would be much appreciated.
0
Comments
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Why risk it, if your accepted for a loan you would normally have it within a day or so anyway0
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sure you can, is it wise...Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Thanks I understand where your coming from but it's peace of mind to know I will have the funds.
As you say though probably not worth the risk for the sake of a few weeks.0 -
Which peace of mind is worth more?
Peace of mind knowing that your mortgage offer is ok
Peace of mind knowing you have the funds immediately and have to wait a couple of weeks, but your mortgage offer may be at risk0 -
Hit the nail on the head! Thanks people appreciate your help.0
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I'm in exactly the same position and I am constantly looking at rates and offers and I want to apply but I know the smart thing to do is wait. We complete on 26th April so not long for either of us to wait
Not worth the risk right! 0 -
That's exactly what i am doing and as marcarm mentioned which peace of mind is worth more!!
Best of luck!!!0 -
What's the plan if no one will give you a loan?0
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