# Can I get a CU loan to do up a  mortgaged house for sale?



## Laststop (12 Feb 2020)

Hi,

Long story shorter.... I have a house with the ex. We've agreed that i'll pay her off and take the house but dealing with the Banks has been a disaster. The current mortgage is with EBS and they've moved the goalposts numerous times and unfortunately I have to deal with them to sort it as no other bank will touch it.  The ex was living in the house for a couple of years and has left it in a horrible state so I need get some work done before being able to sell it on and also pay off a solicitor. From the start EBS stated this wouldn't be an issue but they've dragged their heels and changed required documentation and what i can borrow for so I'm snookered now and short on time to get everything over the line.

What I need to know is if i approach my credit union to look for either a home improvement/personal loan will an application with them throw off the mortgage application or will nothing with the CU show up until it's drawn down?  I presume the banks run another credit check before draw down of a mortgage.

Thanks in advance.


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## NoRegretsCoyote (13 Feb 2020)

You'll get no useful advice unless you post clearly about the costs involved and outstanding loans, also your own earning capacity.


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## elcato (13 Feb 2020)

Also (and not having a go here but) why do you need a home improvement loan ? Can you not repair or do without till you get sorted ? Surely your ex did not leave it totally destroyed.


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## Laststop (13 Feb 2020)

NoRegretsCoyote said:


> You'll get no useful advice unless you post clearly about the costs involved and outstanding loans, also your own earning capacity.



I'm not looking for advice in regards to affordability, the amounts in question are fine.



elcato said:


> Also (and not having a go here but) why do you need a home improvement loan ? Can you not repair or do without till you get sorted ? Surely your ex did not leave it totally destroyed.



Yep, house is wrecked. The boiler has been burnt out from neglect, There is damp setting in and the outside of the house is weather worn and looks derelict. the bathroom is leaking and bath/shower can't be used and the carpets and floors were left with animal excrement all over them. So no i can't really wait.


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## Brendan Burgess (13 Feb 2020)

You should give all the figures to get some ideas of how best to deal with it.

I found your first post very confusing.  Putting in numbers would help you to write it more clearly.

Brendan


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## luckystar (13 Feb 2020)

So I presume you’re keeping the house and taking over the mortgage and paying off the ex?
The answer is yes you can apply for a CU loan and nothing will show up on ICB etc unless it’s drawn down. So keep going on the transfer from both names to yours and once it’s gone through either apply for top up mortgage or CU loan


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## Laststop (13 Feb 2020)

Brendan Burgess said:


> You should give all the figures to get some ideas of how best to deal with it.
> 
> I found your first post very confusing.  Putting in numbers would help you to write it more clearly.
> 
> Brendan


Yes sorry Brendan reading back over it, the OP is a bit of a mess. Honestly I think it should be posted in mortgages not CU. Feel free to delete this thread.



luckystar said:


> So I presume you’re keeping the house and taking over the mortgage and paying off the ex?
> The answer is yes you can apply for a CU loan and nothing will show up on ICB etc unless it’s drawn down. So keep going on the transfer from both names to yours and once it’s gone through either apply for top up mortgage or CU loan



Take over the mortgage isn't accurate as i have to apply for a new mortgage in order to get her name off it. That process and dealing with the bank has taken years off my life. 

Thank you for you reply,  that's what i need to know. Once the mortgage is in my name and drawn down I can draw down the CU loan also. The CU can be a bit slow and will need paperwork too so I wanted to get a rush on it.

Figures in question....... New Mort will be 113k Home Improvement loan...37k. I'll never deal with EBS again.


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## Monbretia (13 Feb 2020)

Pity EBS won't add on the home improvement amount to the new mortgage you have to apply for, would be the cheapest route for you assuming value is in the house.


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## Thirsty (14 Feb 2020)

Laststop said:


> have to apply for a new mortgage in order to get her name off it.



That is the process, and yes it can be difficult.

I'm assuming you don't have children; and in that case, I think I would advise against borrowing more money just now.

Get a skip, lots of bleach and a plumber to sort out the bathroom & boiler. You'd be amazed what a good clean up can do.


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## luckystar (14 Feb 2020)

I’m sorry EBS have been so difficult to deal with. Any reason why you can’t go to another bank? Did you have a tracker mortgage with EBS?


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## Laststop (16 Feb 2020)

luckystar said:


> I’m sorry EBS have been so difficult to deal with. Any reason why you can’t go to another bank? Did you have a tracker mortgage with EBS?




No tracker, just can't switch the mortgage to another bank until the ex is off the mortgage. Only EBS can do that and as i've said, they are just horrible to deal with.


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## Elnino (27 Feb 2020)

luckystar said:


> The answer is yes you can apply for a CU loan and nothing will show up on ICB etc unless it’s drawn down. So keep going on the transfer from both names to yours and once it’s gone through either apply for top up mortgage or CU loan



This advice is not entirely correct as the ICB will place a flag on your record, at loan underwriting stage, that a financial institution did an enquiry on you. This will be visible to other financial institutions who then could ask you if you have applied for a loan elsewhere. Also I believe that your loan application will show up on the CCR even before it is drawn down.


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