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CU Loan application effect on mort app

  • 12-02-2020 6:00pm
    #1
    LastStop
    Registered Users, Registered Users 2 Posts: 311 ✭✭


    HI,

    In process of re-organising a mortgage and will need a home improvement loan also, If i start the process with CU before drawdown on the mortgage is complete will the application impact on the mortgage or would it only affect it if the loan was drawn down?

    Any info would be helpful.


Comments

  • #2
    Logan Roy
    Closed Accounts Posts: 452 ✭✭Logan Roy


    Will only be reported to the credit bureau after it has been drawn down. Getting approval won't impact your mortgage application. Presume you are advising the credit union what the new mortgage repayment will be?


  • #3
    LastStop
    Registered Users, Registered Users 2 Posts: 311 ✭✭LastStop


    Logan Roy wrote: »
    Will only be reported to the credit bureau after it has been drawn down. Getting approval won't impact your mortgage application. Presume you are advising the credit union what the new mortgage repayment will be?

    Yeah all up to date figures. it's only a small mortgage but the bank threw up too much red tap to roll the home improvement in with the new mortgage and meet the deadline I have.


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