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Northern Rock Deal Ends - Remortgage for better deal and clear some debt
BLASTGIRL
Posts: 9 Forumite
hi
my northern rock 2 year deal ends on 1st November 09. the outstanding balance is approx £148000 and we have positive equity I would say the value of the property is around £187000.
We also have another property to which is a buy to let. This ends 2009. this has a £92000 mortgage. Again we have positive equity the value of the property around £25000. We charge around £550 rental for the buy to let the mortgage is currenlty £420 a month with mortgage express.
we have outstanding debt to the figure of approx 70K to which i wish to pay off as much as can be released from the remortgage (looking at at approx 39k which means 90% mortgage on 1st property and 85% on buy to let)
both mine and husbands credit ratings are excellent no ccjs or judgements.
I earn approx 47k and my husband is self employed and has 3 years accounts net profit over the 3 years is approx 14k each year.
I have spoken to 3 brokers 2 which say that it is affordable to remortgage and to release equity and clear some debt however the last one i spoke to worried me and said they couldnt help. I know that there are worse case senarios but is anyone in a similar situation who could help/advise in terms of is this possible has anyone out there had a simliar situation. will the fact i have debt go against me? even though the intention is to clear some with the remortgage? the two other brokers recommened a company called accord? and sounded positive. my aim is to clear credit cards and hopefully next year the remaining debt when two 15 year endowments mature.
thanks
my northern rock 2 year deal ends on 1st November 09. the outstanding balance is approx £148000 and we have positive equity I would say the value of the property is around £187000.
We also have another property to which is a buy to let. This ends 2009. this has a £92000 mortgage. Again we have positive equity the value of the property around £25000. We charge around £550 rental for the buy to let the mortgage is currenlty £420 a month with mortgage express.
we have outstanding debt to the figure of approx 70K to which i wish to pay off as much as can be released from the remortgage (looking at at approx 39k which means 90% mortgage on 1st property and 85% on buy to let)
both mine and husbands credit ratings are excellent no ccjs or judgements.
I earn approx 47k and my husband is self employed and has 3 years accounts net profit over the 3 years is approx 14k each year.
I have spoken to 3 brokers 2 which say that it is affordable to remortgage and to release equity and clear some debt however the last one i spoke to worried me and said they couldnt help. I know that there are worse case senarios but is anyone in a similar situation who could help/advise in terms of is this possible has anyone out there had a simliar situation. will the fact i have debt go against me? even though the intention is to clear some with the remortgage? the two other brokers recommened a company called accord? and sounded positive. my aim is to clear credit cards and hopefully next year the remaining debt when two 15 year endowments mature.
thanks
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