Loan advice

Thespender

Hi all, this is my first post but I have been a lurker for some time and picked up some great advice, I have a question about loans that perhaps someone could give me some advice on?

I have a loan with Capital bank with a closing balance of £17k, I want to pay this back and take out a new loan for £10k (with a better apr) my question is can I apply for the new loan first before paying the other back? I have a good credit rating and Capital would lend me a further £10k on top of the £17k I already have. I'm thinking of using asda for the new loan?

Any help would be much appreciated?

Graeme7777

Hi,

I am no expert on loans but I would think that whether or not you could apply for further finance from another lender would depend on your circumstances - for example, whether or not your salary would support both loans and also your credit status?

Good luck!