phileasfogg
Registered User
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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?
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?