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High interest rate due to second property

Jonesjamie23
Posts: 1 Newbie
in Loans
Hi I have recently bought an additional property with a second residential mortgage, since doing so I cannot get a good interest on a personal loan (Car) even though my credit report is good, how long will this be the case for? Will I ever be able to get a good interest rate on a loan while I own second property?
Thanks Jamie
0
Comments
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Yes, of course. But it depends on how lenders assess your risk.
Remember also that lending criteria have tightened, and over-indebted customers aren't going to get low rates anywhere.1 -
Depends on the level of your debt vs your income. And you have of course substantially increased the former with your second mortgage.
No free lunch, and no free laptop0
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