Quote:
Originally Posted by I-S
38 year mortgage?
That right there is your problem. Assuming that you're not below the age of 30 then they are already looking at you trying to pay off your mortgage without an income in 38 years time. They're certainly unlikely to extend borrowing on that!
The loan is over 7 years, so assuming you're not over the age of 55 then they're not going have such concerns.
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This is interesting, I was 27 when I took out the mortgage. I just assumed they'd prefer to make that back in long term interest gained over 38 years, than the 7 years via the personal loan.
I suppose the real question is why the heck would anyone want to add 10k onto a 38 year mortgage...