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Taking out an additional

  • 25-08-2019 6:16pm
    #1
    theballz
    Registered Users, Registered Users 2 Posts: 1,272 ✭✭✭


    Hi All,

    Probably a silly question and I think I already know the answer but here goes:

    I am in the process of closing off my first home, loan offer is out and all paperwork is issued (on my side) for signature. I am just waiting on the vendor to send over some last bits.

    In short, I am wondering can I take out a car loan before the house closes? Unfortunately I have run into car problems and all my cash is wrapped up for the deposit and associated fees etc

    Would an additional loan (with a different bank) void my loan offer?

    All help appreciated

    Ballz


Comments

  • #2
    theballz
    Registered Users, Registered Users 2 Posts: 1,272 ✭✭✭theballz


    Can anyone help?

    Apologies for following up! Cheers :)


  • #3
    drinkingwater
    Registered Users, Registered Users 2 Posts: 128 ✭✭drinkingwater


    The bank will run a final credit check just before drawdown...


  • #4
    Dolbhad
    Registered Users, Registered Users 2 Posts: 782 ✭✭✭Dolbhad


    The bank will do a credit check before funds are released to see if any loans or credit cards have been taken out. Wait until you have keys to the house to take a loan out.


  • #5
    busylady
    Registered Users, Registered Users 2 Posts: 82 ✭✭busylady


    Definitely no, it will be an issue with your bank for drawdown.


  • #6
    awec
    Administrators Posts: 54,424 Admin ✭✭✭✭✭awec


    Ask your bank. Might not be an issue depending on your finances.


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  • #7
    ELM327
    Registered Users, Registered Users 2 Posts: 22,639 ✭✭✭✭ELM327


    Don't do it till the cheque has been sent


  • #8
    jlm29
    Registered Users, Registered Users 2 Posts: 3,818 ✭✭✭jlm29


    awec wrote: »
    Ask your bank. Might not be an issue depending on your finances.

    This. A loan isn't an issue if you can afford it, and still meet affordability criteria.


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