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    • Moretti1985
    • By Moretti1985 10th Nov 18, 6:41 AM
    • 1Posts
    • 0Thanks
    Will having a loan affect us being able to move house?
    • #1
    • 10th Nov 18, 6:41 AM
    Will having a loan affect us being able to move house? 10th Nov 18 at 6:41 AM
    Hi new here so sorry if this has been posted before. Basically I want to take out a loan of 5000 over 3 years which I have worked out I can afford the repayments comfortably. However we are looking to move house next year and was wondering whether this loan would affect our ability to? Thanks in advance
Page 1
    • BakingC
    • By BakingC 10th Nov 18, 7:10 AM
    • 73 Posts
    • 74 Thanks
    • #2
    • 10th Nov 18, 7:10 AM
    • #2
    • 10th Nov 18, 7:10 AM
    Are you renting or looking to buy a house?

    If you are renting there is nothing stopping you as you aren't looking for any more credit.

    Mortgage will depend on how much deposit you have / how much you are looking to borrow and the value of the property you are looking for as if you have a high LTV (90-95%) and additional loans on top you may struggle to find a lender as they will worry about affordability if interest rates increase.
    Best option would be to talk to a broker who could find the best deal for you in your situation if you decide to take out the loan.
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