can i re mortgage?

Officer_Dibble

Am I missing something? Surely if all your creditors have stopped interest, you'd be better off sticking with the existing arrangements rather than extending your mortgage which you'd need to pay interest on.

Even if it would only add £74 a month, that would be over the entire length of your mortgage rather than just a few years. Under your current arrangement (if I read correctly that there's no interest accruing) you'll have everything paid off in under 5 years.

luckyfool

feisty1 wrote: »

luckyfool: I am afraid yr totally incorrect with this, Hailfax will not offer new deals to adverse clients regardess of them being existing customers

I stand by my earlier post. Halifax will offer a product transfer deal to existing customers subject to them being within ltv limits for the product requested, and no further borrowing being requested, without credit searching, underwriting or verifying income. I'm not sure where you are getting your information from feisty1, but I believe you are incorrect.

Tiddler_2

Feisty1,

Halifax DO allow people with adverse credit to do product transfers - what they DON'T allow is people with arrears on their mortgage to transfer to another product (until the arrears are cleared).

Master Woody

As the companies have frozen interest, adding them to the mortgage may not be the best idea as previously stated - and almost certainly wouldn't be in view of the increase you would have on your mortgage by having to convert it to an adverse credit mortgage.

If you are struggling with monthly payments then probably the best way of resolving this would be to speak to the creditors to ask for reduced payments. The other thing you might be able to do is offer them a lump sum in full & final settlement of the debts, but this might involve your wife having to take out an unsecured loan in her sole name or alternatively if equity allows you could look at taking a secured loan for the monies needed - this would then be at a high interest rate.

So several options but I certainly wouldn't be looking at moving my mortgage away from the Halifax at this moment.