Hello, I am intending to carry out some home improvements and have the following questions:
- If I were to take out a personal loan in my name, would this affect my husband being approved for a personal loan in his name applied for at the same time? Myself and my husband have a joint mortgage and joint bank accounts so it's tricky to know whether the banks would separate us for loans in our own name.
- How do I answer the question "how much is your personal share towards the mortgage" when everything goes in and comes out of one pot?
- If we take the two loans out over 7 years, pay the set monthly payments for a few years but are then in a position to clear the debt after say 3-4 years, will we still have to pay the full amount of interest quoted at the start of the term, and will there be an exit fee to clear the debt in one large payment?