approx maximum total loan figure

Janes888

tiger135 said:

hi Janes what was your reason for the loans? did you stick to the full terms or pay any back early?

it was for home improvements and have paid of the 2 smaller loans early will leave one to completion as was at 2,9% and overpaying on the other one

DCFC79

This just wont go anywhere, you cant use loans for a house purchase, as part of the process you have to show copies of your bank accounts where the money is, it wont work, just get a mortgage.

TripleH

Won't a mortgage work out cheaper anyway?

You work out what the loan costs to repay each month and same for mortgage. You save the difference in an account and pay a lump sum off when the mortgage term ends?

Just because you are quoted an interest rate on an in-principle loan also doesn't mean you get it.

Interest rates are skewed to absorb risk, so a mortgage secured on a house is less risk to the bank than a standard loan so can be cheaper.

The board bangs on about not turning unsecured debt into secured, but this is an instance where a secured loan is appropriate.

enthusiasticsaver

When you say you have been accepted has a full application been made for both loans and they accepted or are they just agreements in principle?