Save or pay borrowings


Registered User
I know that the best advice will be to pay off loans rather than having expensive loans at the same time you have savings.

But I am just wondering how a bank would look at my finances in a year or two time. Would they be more likely to give me a mortgage if I have savings and a loan rather than a smaller loan but no savings? I wouldn't be a first time buyer and would have very little equity in my flat so unlikely to make a big (or any) profit when I sell here the way things look at the moment.
Which do you think I should make an effort to do, save or pay off those loans?


Registered User
My (limited) experience would suggest that no savings but no loans is better. Any broker I've dealt with has always advised clearing debts with savings before applying for mortgage.