Remortgage and finance
Discussion
I’ve decided to treat myself to a motorbike once I finish my probation (July).
Our fixed term mortgage comes to an end in November.
If I get a bike on finance (not a huge amount £5,000) will this effect the mortgage renewal at all? I’m also getting a pay rise which pretty much covers the monthly repayments.
If it changes anything I had a loan when I got approved for the mortgage of £215 a month and although it limited how much we could borrow we got enough for the flat without an issue.
We don’t want to borrow anymore against the flat. Just get a better rate than what we’ll be on come November.
I hope that makes sense!
Our fixed term mortgage comes to an end in November.
If I get a bike on finance (not a huge amount £5,000) will this effect the mortgage renewal at all? I’m also getting a pay rise which pretty much covers the monthly repayments.
If it changes anything I had a loan when I got approved for the mortgage of £215 a month and although it limited how much we could borrow we got enough for the flat without an issue.
We don’t want to borrow anymore against the flat. Just get a better rate than what we’ll be on come November.
I hope that makes sense!
No one can really give you the answer you are looking for without having all of your details. Will it affect your application? Yes, but how much, no one can tell you with minimal information.
Having a loan previously, isn't an indicator that it won't pose a problem this time around, whenever you initially took out your current mortgage, that would be a very different economic environment to what we are currently in........
Having a loan previously, isn't an indicator that it won't pose a problem this time around, whenever you initially took out your current mortgage, that would be a very different economic environment to what we are currently in........
Rather than start a new thread.
Got a credit card with just under £400 that will be paid off this month. The limit is £500.
Does having a credit card with zero balance on there effect a remortgage?
Also have another that is zero interest for another year and a bit. That has around £800 on there. Worth trying to get this paid off quicker? Don’t think I’ll be able to do it all before we come to remortgage though.
Got a credit card with just under £400 that will be paid off this month. The limit is £500.
Does having a credit card with zero balance on there effect a remortgage?
Also have another that is zero interest for another year and a bit. That has around £800 on there. Worth trying to get this paid off quicker? Don’t think I’ll be able to do it all before we come to remortgage though.
Like Sarnie said previously, will depend on other factors surely.
A credit card with money owed might not make any difference if you are on £200k a year and your flat is £80k.
It might make a difference if you Are scraping through the affordability checklist.
More than likely you’ll be perfectly ok.
A credit card with money owed might not make any difference if you are on £200k a year and your flat is £80k.
It might make a difference if you Are scraping through the affordability checklist.
More than likely you’ll be perfectly ok.
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