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My chances
Hi all....looking for a little advice.
After my business when bust, like many others,i was up s*@t creek without a paddle.With no income the debts spiralled out of control.Have been working for the last couple of years now and am starting to get my life back together.I cleared some of my outstanding business debts leaving me with a few personal credit card debts
I have 4 credit card debts totalling around £22000 all on agreed fixed payment plans.
As my family is growing up we need more room.
We would like to get an extension to the house.
We have an endowment mortgage which has 3 years to run.The mortgage on the property is for £28,000 with the value of the house currently at £85,000.(The property would be worth around £130k-£140k after completion )
Now the question....
What do you thing my chances are of getting another loan or mortgage of around £35000 to enable us to go ahead with this project.
All advice appreciated
After my business when bust, like many others,i was up s*@t creek without a paddle.With no income the debts spiralled out of control.Have been working for the last couple of years now and am starting to get my life back together.I cleared some of my outstanding business debts leaving me with a few personal credit card debts
I have 4 credit card debts totalling around £22000 all on agreed fixed payment plans.
As my family is growing up we need more room.
We would like to get an extension to the house.
We have an endowment mortgage which has 3 years to run.The mortgage on the property is for £28,000 with the value of the house currently at £85,000.(The property would be worth around £130k-£140k after completion )
Now the question....
What do you thing my chances are of getting another loan or mortgage of around £35000 to enable us to go ahead with this project.
All advice appreciated
0
Comments
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in the current climate...slim
might be an idea to wait till the mortgage is paid off and your credit rating restored then look at a re-mortgage in 4 years time(or thereabouts)0
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