Putting Personal loans into a mortgage after first year
My partner and I are in the process of buying a house. My parents are taking out a personal loan to help us with some of the costs, mainly furnishings. We will be paying the loan off and hope to put the balance into our mortgage after year 1.
Has anyone tried/done this? Have you had any difficulties or was it straight forward.
1 year fixed rates
We have been offered a 1 yr fixed rate at 3.04%. I am happy with this but worried about what happens at the end of this period. Obviously we have to renegociate but are we more likely to get stung with a high rate because our lender has us tied into a mortgage with them? Can we move lender?
Thanks in advance!!!
Basically I am concerned that we will have very limited negociating power.
My partner and I are in the process of buying a house. My parents are taking out a personal loan to help us with some of the costs, mainly furnishings. We will be paying the loan off and hope to put the balance into our mortgage after year 1.
Has anyone tried/done this? Have you had any difficulties or was it straight forward.
1 year fixed rates
We have been offered a 1 yr fixed rate at 3.04%. I am happy with this but worried about what happens at the end of this period. Obviously we have to renegociate but are we more likely to get stung with a high rate because our lender has us tied into a mortgage with them? Can we move lender?
Thanks in advance!!!
Basically I am concerned that we will have very limited negociating power.