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    • Tixy
    • By Tixy 18th Jun 11, 8:38 PM
    • 31,081 Posts
    • 39,468 Thanks
    Tixy
    • #2
    • 18th Jun 11, 8:38 PM
    • #2
    • 18th Jun 11, 8:38 PM
    How much do you earn? If its less than £50k+ then you'll be very unlikely to find anywhere who will give you a loan sufficent to pay off those debts - even with a very good credit rating. Any potential lender will consider the new loan as additional credit on top of what you owe on the cards (as you might blow the loan and not pay off your cards), and so they will assess whether you can afford to repay £30k of debt. If you are stuggling to repay £15k, I'd guess they'd judge you couldn't afford the repayments on £30k of debt.
    A smile enriches those who receive without making poorer those who give

    or "It costs nowt to be nice"
    • geoffky
    • By geoffky 19th Jun 11, 5:35 PM
    • 6,605 Posts
    • 9,241 Thanks
    geoffky
    • #3
    • 19th Jun 11, 5:35 PM
    • #3
    • 19th Jun 11, 5:35 PM
    borrow more debt to pay off debt.....not the best approach.... to cut down on your expenditure is the only magic bullet available.
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
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