All other things being equal, when applying for a mover mortgage (selling current home 90k equity) should we:
A) Pay off personal loan used for renovations ~7k at an accelerated pace (regular payment is €200 p/m) to €1200pm
B) Have regular savings of €1000 p/m and maintain loan repayments at €200 pm?
Which do banks prefer to see?
(no other debts requiring maintenance)
A) Pay off personal loan used for renovations ~7k at an accelerated pace (regular payment is €200 p/m) to €1200pm
B) Have regular savings of €1000 p/m and maintain loan repayments at €200 pm?
Which do banks prefer to see?
(no other debts requiring maintenance)