A
ando
Guest
Hi guys,
I’m in a bit of bother at the moment and need some advice.
I am currently negotiating with AIB for a loan of 40,000 to pay back negative equity of a mortgage on a house gone bad. The mortgage is with Aib. I have a credit union loan of 7000 currently, however I have shares of 7000 also, so if I wanted to, I could neutralise this loan tomorrow.
I want to get rid of my credit union loan, however my question is, is it better to keep the credit union loan now while I am negotiating with AIB for a loan rate. IE, they will be going through my financial circumstances to see how much I can pay back. My credit union loan is @ 350 per month. I want to keep my repayments for the 40,000 as low as possible. I work it to be 277 per month for 15 years which is ok with me. So is it better to keep my credit union loan? If I clear my credit union loan, is there a chance the bank could say I can afford larger repayments and want me to up the repayments?
Thanks
I’m in a bit of bother at the moment and need some advice.
I am currently negotiating with AIB for a loan of 40,000 to pay back negative equity of a mortgage on a house gone bad. The mortgage is with Aib. I have a credit union loan of 7000 currently, however I have shares of 7000 also, so if I wanted to, I could neutralise this loan tomorrow.
I want to get rid of my credit union loan, however my question is, is it better to keep the credit union loan now while I am negotiating with AIB for a loan rate. IE, they will be going through my financial circumstances to see how much I can pay back. My credit union loan is @ 350 per month. I want to keep my repayments for the 40,000 as low as possible. I work it to be 277 per month for 15 years which is ok with me. So is it better to keep my credit union loan? If I clear my credit union loan, is there a chance the bank could say I can afford larger repayments and want me to up the repayments?
Thanks