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Mortgages!
hi all, is there any mortgage advisors/experts on this board? Today, I had an offer for a house accepted. Braclay's was my first point of call - but their first time buyer (fx for 3 years) rate of 4.49% with a LTV of 85% is a little too high. I've also spoken to my own bank Lloyds (both personal and business) and they're offering a IR of 3.89% with same LTV but for 2 years fixed. Barclay's gave me an acceptance in principle so I could (initially) secure the property with an offer.
The house in question is more of a long term investment than somewhere I see myself living for the next 10 + years. It's in a quiet area just outside of Newcastle City Centre and beautifully done out; 3 bed semi with garage and lots of extension potential. Well worth the £150k we've had accepted. I've got £18k sitting there ready to go down as a deposit -so I've a £4,500 ish shortfall on the deposit. If i was to take a short term personal loan out to make up the deposit - would it go against my continuing mortgage application - or credit file? Apart from a HP on my car - me and the wife have no other debts outside of my business mortgages (which aren't taken into account)
I could borrow it from my siblings/parents - but really don't want to.
Thanks in advance.
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