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Personal loans after mortgage
Hi there, I am a new home owner, bought it 2 months ago, I need a personal loan,(6k), Ihave my mortgage with Halifax, I talked to them, they say we advice customers to wait 4-6 month before they apply for any credit, my question is that can I try somewhere else, or is the same everywhere, you have to wait some months, after mortgage, if ,if I can look elsewhere, for personal loan would you recommend anyone, isn't it better to look for a loan broker, many thanks for any advice
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Comments
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Use an eligibilty checker.
However, your options will be limited following a new mortgage.0 -
4-6 months is good advice especially if you don't want to pay over the odds0
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Thanks for advice, where could I use an eligibility checker?0
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From experience the better rates often kick in at £7k not £6k. So although I wouldn’t recommend borrowing more than you need if the APR is better at £7k it may be worth applying for a bit more.Whether you are successful depends really on your personal Financial circumstances.0
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Many thanks for reply, I was gone go for 7k myself. Can I ask is loan eligibility checker and loan eligibility calculator are same thing. 2.Do I get more chances with brokers. Thanks0
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Why the rush for a loan, you've just a house which is a big purchase and with it comes a responsibility not to over burden yourself.0
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MSE Loans Eligibility Calculator (not long at your address, just taken out a mortgage - unlikely to get a good rate)
https://www.moneysavingexpert.com/eligibility/loans-calculator/search/
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You will be credit scored regardless of whether you borrow from the Halifax or elsewhere and the recent mortgage will count against you. You will not stand a better chance with a broker but they may be able to point you towards lenders appropriate for your circumstances if you are Self employed or have a bad credit rating. You will have two things stacked against you though, not at current address at least six months and recent borrowing. If you do get a loan approved it may be at a high rate.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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