Got an Answer?
Op here. Thank you for all your responses. We have decided not to do this. So I appreciate the support and advice you gave me.
We will save and have overhauled our budget... things have been going wrong lately so it was a desperate attempt. Thank you for talking me out of it xx
No it won't work. Banks normally want you to pay out debts before starting a mortgage. Unless the personal loan is in someone else's name?
My sister did this. Not exactly sure of how it all worked but a house came up that they wanted but were 10k short. They got a loan approved and borrowed 10k to add to their deposit. They paid off the personal loan pretty quickly though because it's higher interest. Just be careful doing it though because you could get into financial trouble
One step forward, 3 back. Just keep saving and spend your money so you don't pay banks to get cappuccino machines and fancy sofas ( yes happened to my local one ) c