If I take a loan out, will it affect my mortgage or getting a new mortgage

A personal loan will not affect your current mortgage repayment but will be an additional monthly commitment to make.

Before taking a loan, you should ensure you are comfortable that you can afford the repayments for both your mortgage and the loan.

If you are planning to take a new mortgage, one of the factors a lender will consider is your existing level of debt and recency of credit taken when determining if you can afford the mortgage repayments. You may wish to seek advice from a qualified mortgage advisor.

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