Personal loans during mortgage Conveyancing

[Autumnleaves200]

Hi,

We currently have a remortgage application that is with the Conveyancing solicitors. My husband has started to worry that the mortgage won’t be in place by the date our builders are due to start and wants to to take our personal loans to cover the first couple of payments then pay them off when the mortgage has come through

Would the fact we’ve taken out loans after the bank has done their affordability checks flag anywhere eith the bank? I’m worried they won’t give us the mortgage with the loan repayments

Potentially yes they can re run the credit checks at the last minute, also with current climate everything is so restricted that it's a big risk. That said if your ltv is decent enough it might be OK but if still check with your mortgage broker or lender in advance

You are usually advised not to take out any new lines of credit whilst awaiting a mortgage offer, I presume this will extend to remortgaging as well. I would advise against it, no need to add extra stress to the situation.