Does domain extension affect local ranking

I found one crazy good expired & clean domain with good history, but the domain is xxxx.co.uk
Most of my keyword monthly searches come from US. Will this domain extension somehow affect my ranking, should I be worried about this?

Thanks

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Yes, domain extensions affect ranking

In terms of search engine, Google classifies a domain as a generic TLD (.com, .net, .org), and as a country code TLD (.ly, .hr, .si). Some ccTLD's are accepted as gTLD's (.co from Columbia, and .me from Monte Negro). From what I can see here ->> Geotargetable domains .ly for example isn't listed as a gTLD. This means it will better rank in Lybia, but against a .com in lets say Australia or USA, .com would win (if every single other aspect was the same). .com also ads to credibility, when you have two competitors of same name on .com and .other, .com looks and feels more credible so it also impacts Clickthrough rate on the search engine results page..

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