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Applying for Loan after Mortgage Offer
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puresilk
Posts: 18 Forumite
Dear All
I recently applied and received a re-mortgage offer with TSB for a 10 year fix deal at 1.74%, (which I think is a brilliant rate considering the recent rate rises),I have 50% equity in my home.
I am not looking to complete until my existing mortgage expires on 31.05.22 and the new deal starts on 01.06.22, so my question is would it be wise to apply for a new loan for a car or should I wait until after the mortgage completes ? I have already been credit checked, but are TSB likely to do another credit check before they release the funds ?
Any advice appreciated.
I recently applied and received a re-mortgage offer with TSB for a 10 year fix deal at 1.74%, (which I think is a brilliant rate considering the recent rate rises),I have 50% equity in my home.
I am not looking to complete until my existing mortgage expires on 31.05.22 and the new deal starts on 01.06.22, so my question is would it be wise to apply for a new loan for a car or should I wait until after the mortgage completes ? I have already been credit checked, but are TSB likely to do another credit check before they release the funds ?
Any advice appreciated.
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Comments
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Do not take out anything unless you want them to reassess the case. They could do another hard check before completion and an undisclosed loan payment probably won't go down wellpuresilk said:Dear All
I recently applied and received a re-mortgage offer with TSB for a 10 year fix deal at 1.74%, (which I think is a brilliant rate considering the recent rate rises),I have 50% equity in my home.
I am not looking to complete until my existing mortgage expires on 31.05.22 and the new deal starts on 01.06.22, so my question is would it be wise to apply for a new loan for a car or should I wait until after the mortgage completes ? I have already been credit checked, but are TSB likely to do another credit check before they release the funds ?
Any advice appreciated.1 -
Wait wait wait is what I would do. With lenders things go pear shaped pretty easily when you start changing your financial situation. Just few more months to go 🤞Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓1 -
It is always best to wait as anything can happen and may change.1
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