My partner and I are newly on a one year fixed rate for our first house. We're over 100k lower than our max 3.5 times what the bank offered in our AIP.
We're potentially going to borrow 30-50k from the Credit Union and use our own savings for building/renovations and to get a car. Will this, in people's experiences, present an issue if we look to switch lender in a year to avail of better rates? We'll have same/better salaries but debt whereas we are debt free apart from mortgage now.
I understand the underwriting process might be a little different (and easier) for switching versus a new mortgage but haven't found anyone I've talked to in same circumstances. Cheers.
We're potentially going to borrow 30-50k from the Credit Union and use our own savings for building/renovations and to get a car. Will this, in people's experiences, present an issue if we look to switch lender in a year to avail of better rates? We'll have same/better salaries but debt whereas we are debt free apart from mortgage now.
I understand the underwriting process might be a little different (and easier) for switching versus a new mortgage but haven't found anyone I've talked to in same circumstances. Cheers.