Shared Ownership additional borrowing

LondonSW5

Have a 25% share in a housing Association property. There is sufficient equity in the property for me to take additional borrowings....however my mortgage lender cant proceed without a letter from the housing association stating that the mortgage protection clause will support the additional borrowing. Guess what....the housing association wont do that!??

I dont know how to proceed. I need to pay off an unsecured loan and wanted to add it to my mortgage...i cant manage financially as i am paying out too much each month like this.....any help or suggestions would be really appreciated...!! Thanks.

mummytofour

Please can you visit the debt free wanna be bored on MSE and post a lists of your current incomings and out goings? It is very rarely a good idea to unsecured debt into secured. In addition there may be ways of saving money that your currently dont know about freeing money up to pay your unsecured debts.