How long after moving house to apply for loan?

livetoclimb

We’re in the process of moving house, having exchanged last week and completing middle of next week. I want to buy a new motorbike once we’ve moved, but unsure of how a recent ‘large credit event’ will impact a finance/loan application. 

So firstly, whilst affording a <£80 payment a month is no issue, I wondered whether anyone could give me any advice on how long I should wait before making an application. I will of course get myself on electoral roll as soon as I move. 

Secondly, is it better/easier to go for a secured finance option, or an unsecured loan with a slightly lower APR? The total value of the loan would be ~2500 over three years so interest difference not huge. More interested in which would be easier to get soon after a recent mortgage.

If helpful, we’ve bought at well under our maximum affordability, and I’ve had a decent pay rise since the mortgage offer. I’ve put most of my spare cash reserves into the deposit to get a lower LTV. We’ve ported our mortgage from our current house so presumably on my credit file this will look like a full repayment and then a new loan. 

I have a pretty good credit history - no defaults/CCJs, and always kept credit cards hovering around the 30-50% mark with timely repayments. 

I don’t want to have a refused loan on my credit history, and whilst I’m aware there is always potential for this I’d rather minimise the chance!

Thanks in advance and sorry for the essay!

Sncjw

Yeah not a good idea to get credit soon after moving in.. The banks can and will likely do further checks. 

I would want credit checks kept for the important stuff like energy bill, phone line and water bills. They will do credit checks to grt service in. 

livetoclimb

Sncjw said:

Yeah not a good idea to get credit soon after moving in.. The banks can and will likely do further checks. 

I would want credit checks kept for the important stuff like energy bill, phone line and water bills. They will do credit checks to grt service in. 

Thanks for the advice. Looks like it would be sensible to wait for a while. 

DCFC79

It is apparently easier to get finance secured on a physical item.