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Advice needed
Comments
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It would appear to be ok.
You'll need to speak to whoever you are buying from to see if they are happy to delay it by 2 months. To be honest with the market being like it is, then the seller should be happy to have a buyer, but you don't know what deadlines they have to meet etc.0 -
Ok great. Do you think I should pay off the loan and reduce my monthly payments by £200? Thought it may help with the mortgage?0
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Ideally yes0
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Ok...sorry for all of the questions!!
So if I do this do I have to fill out a whole new application form...or just inform GE of the acounnt being closed?0 -
I wouldn't do anything yet, i dont think you will get re scored. I know that some lenders have live credit scoring (HBOS Group) But im sure First National dont. Good luckI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, So you need to take my word for it. This signature is here as i follow MSE's mortgage advisers code of conduct. Any posts on here are for information and discussion purpose only and shouldn't be seen as financial advice.0 -
Thank you Qual.
What makes you think that?0 -
As Qual123 says, you don't need to tell them anything. If they say it doesn't fit on their affordability calcuations then you can tell them that you are paying off the loan.
But even if they don't ask for it, and you can get the seller to allow you to delay for 2 months then I would still pay off the loan as it will give you an extra £200 pm in your pocket.0 -
Thank you both for your time and effort...so no need to fill out new application forms etc?0
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No, no need at all0
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First National do credit score anything above 60% LTV, but unsure if its just at application stage or if its pre-offer too.0
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