I am in a position where I will be applying for a mortgage soon. I have had one previously.
When looking at affordibility calculators they ask about loans. Now I havent had a bank loan since October 2012 which I settled earlier (downgraded my car to clear the debt and get a higher deposit amount).
I do however have a student loan which I have a year left on. Does this count as a loan payment?
It does show on my payslip but not sure if this counts as a loan. I can get a letter showing this from the SLC.
I actually have the funds to pay off but with the interest being a mere 1.5% (with it being in a 4% savings account) it pays not to.
Thanks
When looking at affordibility calculators they ask about loans. Now I havent had a bank loan since October 2012 which I settled earlier (downgraded my car to clear the debt and get a higher deposit amount).
I do however have a student loan which I have a year left on. Does this count as a loan payment?
It does show on my payslip but not sure if this counts as a loan. I can get a letter showing this from the SLC.
I actually have the funds to pay off but with the interest being a mere 1.5% (with it being in a 4% savings account) it pays not to.
Thanks