Home Improvement Loan

mancbev

Hi guys,

Quick question, could I (as a first time buyer of a house about to agree a mortgage) take out a Home Improvement loan? I’m really unsure of all the rules about what we can and can’t do.

Thank you

[Deleted User]

Whatever you do, apply for no further credit until your mortgage has completed.

[Deleted User]

If you are about to finalise a mortgage its advisable not to as they often run a second check immediately before it, and once you move into a property its advisable to wait around 6 months before taking on a new loan, bit of a catch 22 situation.

PeacefulWaters

So you're buying a house, presumably with a mortgage, and already can't afford to do what you want with it?

Candyapple

PeacefulWaters wrote: »

So you're buying a house, presumably with a mortgage, and already can't afford to do what you want with it?

Bit unfair PW, I'm currently house-hunting and lots of houses I have viewed have not been touched since the 60s/70s and would need complete renovation. Given the price of houses down South, I would be in the same position as OP should I find a house. It's a depressing state of affairs.

OP I would try and save as much as possible in the next 6 months before making any more applications for credit, and don't forget to get yourself enrolled on the electoral roll at your new house ASAP as this can take time for it to be reflected on your credit files as well.