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Loan application before drawing down mortgage

theknightbg · 2020-09-15 22:48:32

Hello, We are loan approved on a house and were looking to get a loan to furnish and finish the house as soon as we get the keys (in 4 weeks or so). Signing contracts on Thursday. I applied for a loan with avantcard and credit union to see what rates ill get from both. I have not agreed on any loans from either. I was…

15-09-2020 10:48pm

#1

theknightbg

Registered Users, Registered Users 2 Posts: 25 ✭

Join Date: January 2014

Posts: 19

Hello,
We are loan approved on a house and were looking to get a loan to furnish and finish the house as soon as we get the keys (in 4 weeks or so). Signing contracts on Thursday. I applied for a loan with avantcard and credit union to see what rates ill get from both. I have not agreed on any loans from either.

I was thinking of agreeing on a loan after mortgafe is drawn down.

Can the loan applications alone affect our mortgage process? We were AIP three weeks ago got loan approval last week, signing contracts on thursday.
Was applying for a loan before drawing down on a mortgage a good idea at all?
Thanks

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