Refinancing/new mortgage

rach83

Hi,

I've been trying to sort my debts out to make getting a new mortgage for a new house hopefully a bit easier. I have taken out a unsecured loan long term to consolidate my debts but having checked my credit file it appears that the loan company (Tesco) have front loaded the interest on to the debt and the loan amount plus interest is listed on my credit file. Will this affect a mortgage application? The bank only seen to ask how much it costs to service each month not the overall figure. Thanks

Debtslayer

The amount of outstanding debt will affect how much mortgage you can get. Also when will you be looking for new mortgage? If it's soon then I don't think you should have taken out a loan now as too many credit applications will also affect mortgage application.