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  • FIRST POST
    • Jennifer Davey
    • By Jennifer Davey 19th May 17, 1:24 PM
    • 109Posts
    • 17Thanks
    Jennifer Davey
    Loan and Remortgaging
    • #1
    • 19th May 17, 1:24 PM
    Loan and Remortgaging 19th May 17 at 1:24 PM
    Hi all,

    We are due to remortgage in September 2018. I have several credit cards and catalogues with balances. I'm looking to consolidate into a loan to clear these and get them paid off asap however it will leave me with the loan with a balance of roughly 3k around the time of remortgage. I'm weighing up my options, being on maternity leave its far easier for me to manage the payments on each account by clearing and just paying the one loan account... my main concern is that we won't get a good deal next year if i have this loan outstanding?

    The loan is with a high street lender btw. Not a payday/ ridic high interest loan

    Thanks,

    Jenn
    Credit score slowly improving!
Page 1
    • Oakdene
    • By Oakdene 19th May 17, 1:26 PM
    • 947 Posts
    • 1,546 Thanks
    Oakdene
    • #2
    • 19th May 17, 1:26 PM
    • #2
    • 19th May 17, 1:26 PM
    Consolidation loans rarely work unless you tackle the issue that caused you to get into such debt in the first place.

    It might be an idea to post a SOA so people can help you look at where you are perhaps overspending.
    • Jennifer Davey
    • By Jennifer Davey 19th May 17, 1:28 PM
    • 109 Posts
    • 17 Thanks
    Jennifer Davey
    • #3
    • 19th May 17, 1:28 PM
    • #3
    • 19th May 17, 1:28 PM
    That issue is sorted now lots of debt left by an ex just now have to clear it!
    Credit score slowly improving!
    • clairebeth
    • By clairebeth 19th May 17, 1:43 PM
    • 69 Posts
    • 19 Thanks
    clairebeth
    • #4
    • 19th May 17, 1:43 PM
    • #4
    • 19th May 17, 1:43 PM
    How about transferring to 0% cards? Then, as each card is cleared, close it down, so then you may only have one card open at time of remortgaging?
    • Jennifer Davey
    • By Jennifer Davey 19th May 17, 2:45 PM
    • 109 Posts
    • 17 Thanks
    Jennifer Davey
    • #5
    • 19th May 17, 2:45 PM
    • #5
    • 19th May 17, 2:45 PM
    Good idea, just not sure i'd get 0% card to cover it due to credit report
    Credit score slowly improving!
    • clairebeth
    • By clairebeth 20th May 17, 11:26 AM
    • 69 Posts
    • 19 Thanks
    clairebeth
    • #6
    • 20th May 17, 11:26 AM
    • #6
    • 20th May 17, 11:26 AM
    What is the rate on the loan you're planning on getting? Otherwise, is there any way you could push yourself to pay off that extra 3000 before you remortgage? Selling things, doing overtime, getting a 'Dave job' (as Dave Ramsey would say)?
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