Car Loan

J

jhegarty

Registered User
Messages
2,962
Quick question...

i am saving for the dreaded deposit at the moment... and its also time to change the car... if I get a car loan will that affect getting the mortgage for anything other than the whole percentage of income thing (well clear on that front)..
 
You will b e required to declare your outgoings, loans etc as part of obtaining Mortgage approval.
ninsaga
 
hold fire until afterwards. if your car is clapped out there are plenty of nct'd bargains out there from E500 up that will get you around.
 
i just got a loan out to clear all existing loans and to go to abroad for 6 weeks but after gettin the loan i have since decided to buy a house so cleared all the loans off. had a bit left put it into savings. my payments were 450 euro per month because i wanted it clear quick but since we have decided to buy it is the only loan between the two of us the mortgage broker advised us to bring it down to half of that. so this will be something for you to think bout before getting a new car. Good luck
 
When I went to EBS for my mortgage they told me they could not give it to me until I cleared my car loan. I then went to BofI (who the car loan was with) and asked for a mortgage, they were not concerned about the car loan but were not offering to give me as big a mortgage as EBS. So, I went back to EBS and said that BofI will give me the mortgage and also allow me to keep the car loan. EBS quickly changed their mind and said that they would give me the full mortgage and let me keep the car loan!
 
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