10 year loans

[Blackhorse B]

Hi,

im going to apply for a home improvements loan over 10 years with tesco loans. im due to inherit a house in a few weeks and dont know when paperwork etc will be done, so my query is without mortgage documentation(as there is no mortgage) and without deeds etc) how does tesco/ulster bank check you own a house? just like to know my position regarding getting a 10 year loan.
Thanks

 

[Brendan Burgess]

They might accept a letter of undertaking from a solicitor that the loan will be secured on the property once you have full title to it.

brendan

 

[KerryG]

Far as I know Tesco do their loans through Ulster Bank and these are unsecured loans so whether or not you own a house shouldnt be an issue other than it might improve your chances in the credit scoring system they use.