Very broadly, as the CG moves aft the aeroplane becomes less stable in the pitching plane. As you go aft of the CG limit the aeroplane will be come more and more "pitchy" then, at some point (possibly not very far aft of the limit) it will become uncontrollable. With a forward CG it will become more strongly stable, this will reduce its controlability!
So, the short answer, yes, there will be an effect. The advice - don't try this at home!! Really, DO NOT TRY THIS AT HOME!!
Happy landings
3 Point