Loan and mortgage application question

Valley

My house is currently on the market but as we all know it could take anywhere from a week to 12 months+ to sell.

In the mean time I really need a new car for my 110 mile commute so I've applied for but not yet returned the paper work for a £12000 loan (I know I don't need to spend that on a car but it's well within my means)

I will be settling the loan with the equity from the house sale or if the house does take 12 months to sell I'll have largely paid off the loan anyway.

I'm having second thoughts though in case the loan stops me getting the mortgage we'll need.

Here's the figures

Joint income £66000
Equity from sale likely to be £80000 (less the loan settlement)
Amount of new mortgage £170000 - £182000 depending on amount used to settle loan for a £250000(max) house
No other debts

Any advice greatly appreciated.

homer_j_3

if you are going to settle the loan on completion of your sale and it will not continue whilst your next mortgage is in place, lenders will ignore that commitment as it will not affect your affordability once new mortgage starts.