Mortgage approved now need to get furniture

Hi,

My wife and I have just been approved for our mortgage and our bid etc is accepted. We used PTSB's 100% mortgage and there was no problems at all. Now we need to buy furniture for the house so I was wondering do banks offer extra cash for furnishings? I haven't asked PTSB yet. We are expecting our first child so would want it all done asap. 10K would more than cover everything and repayments wouldn't be an issue.

Any advice?

Doubt they will give you more than the property value as a mortgage, but should give you a personal loan for the furnishings (as long as you can repay of course).

I did hear that BoI were giving 100% + mortgages to certain borrowers, but this was 'thid hand' type of story.

Shop around though-ptsb aren't necessarily the cheapest for personal loans. For €10k, I'd give Tesco a look.

As an aside, your fairly highly leveraged, 100% mortgage, and furnishings also being paid for by debt (do you have a car loan as well?), maybe it's none of my business, but do you have any savings?

We have just got married three months ago so all savings barring SSIA's were used for this. Honeymoon baby then that's why went with 100% mortgage instead of waiting to get savings. We both get work bonus' at Xmas that would cover that loan so it is only a short term need. We do have a car loan, 160 month also.

Fair enough, given that you have SSIAs, it's more than I have!

Like I say, as long as repayments aren't a problem (and the lender can see this) then you should be able to get a personal loan for the furniture. Remember to shop around-check out the Best Buys list on this site.

If you are intending to repay the loan early, be sure to read all the ts and cs. Tesco loans are fixed rate, and so may carry a penalty for early redemption.