so annoyed - any advice

lazza

hi all
i recently had to move house into one provided by oh work - we have a mortgage and a secured loan on our house which is now empty.

i missed a few payments on the secured loans and what with the PPI they have added charges of 19000 over what i roginally borrowed. i borrowed £30000 and the settlemnet is now £49000 i cannot understand it. The repayments are £391 per month.

My mortgage is £63000 and the repayments have gone down to £423. I really need to remortgage to keep the interest rates down but then the secured loan company have made a tidy profit for nothing - also as the settlement is so high there probably isn't equity in the house. I also need to rent the house out if i've any chance of keeping up payments.

my credit rating is appalling as well - any advice - or just try and make payments for a while and pay other debts off.

Thanks

Trying_to_be_good

You'll get more help if you post this on the (plain) Mortgages thread, rather than the Mortgage Free Wannabee thread.

You'll need to look at whether you were mis-sold the PPI, they will help advise.

Your chances of remortgaging are nil if you don't have equity in the property, I'm afraid.