Getting a mortgage and credit union loans

[deesmith]

We have a credit union loan which we plan on clearing with a little from our mortgage. Should we be up front with the bank and tell them about the loan and that we plan on clearing it or say nothing? Can the bank without you telling them that you have a credit union loan?

 

[djsim]

Hello,

I was in the same situation myself and told the bank. Mistake. Myself and girlfriend both had loans (she had more savings than the loan) but before the bank would give us the mortgage one of us had to clear our C U loan - she used her savings to clear the loan (waste of money)

The bank cannot see credit union loans so I wouldnt bother - that is my 2 cents anyways

 

[ci1]

Say nothing. You'll only open a can of worms.
Once the CU is not showing on your bank statements (IE direct debit) and they won't ask then don't mention what you're planning to do.
C.

 

[Satanta]

The bank cannot see credit union loans so I wouldnt bother

[broken link removed] so not technically true, at least for all cases.

Once the CU is not showing on your bank statements (IE direct debit) and they won't ask then don't mention what you're planning to do.

They will ask if you have any other loans so again, not true.