Loan but remortgaging soon

Tommeh_

Hi guys, 

so I’m looking at getting a loan of around £15,000 to buy a new car; but also remortgaging next month as our fixed term is ending. I’m just wondering if it’s worth waiting until the new mortgage is in place, which will be 1st July. 

My current car is beginning to have problems hence being eager to swap it in for a new one. Does anyone know if it’ll be possible during the remortgage appointment we have with a broker if they’ll be able to look at the rates with a £15000 loan and without it to see the different and if it’s worth waiting.

Thanks for any help

CliveOfIndia

I'd definitely wait until you've secured the mortgage.  An additional £15K of debt would be factored in to the mortgage lender's affordability calculations, and may very well affect the rate you're offered.

Aside from that, £15K is a lot to be spending on a car in any case - even more so if you're having to take out a loan to afford it.  You could buy a very decent used car for less than half that price.