Need advise on a remortgage

AndySt_2

Hi, hope some1 can help me. I've accumalated debts of £20,000 on loans and credit cards to complete renovations to my house and i need to remortgage to pay these off. The value of my house is £100,000. and i have 19yrs left and £52,000 with northern rock (who dont do remortgages) my monthly mortgage payment is £320. I earn 40k a year but have just been turned down by my bank hsbc. I've never missed a mortgage payment or loan payment however i've missed a couple of card payments recentley but payed double the next month this is due to the fact that my interest free payment periods have ended and im treading water at the minute. So id really appreciate any advice from a professional or some1 whose been in a similair position thnks.

herbiesjp

As long as you are aware of the implication of consolidating, then it should be straightforward

At under 75% LTV, with that income, you should be fine with a lot of lenders - the missed payments could be causing problems, so it is important to see how these are reflected on your credit file.

Do you have an up to date copy?

Do not apply to anyone else, until you have spoken to a whole of marker adviser as you could do more harm than good

getmore4less

Remortgage will not pay the debts off it just moves them from unsecured debt to secured debt.

Recently extended credit with loans and CC along with a missed payments on CC will not look good to a new lender

With £40k(£2400pm) you should be able to make good inroads into the debt

What rates are the loans? it may not be worth moving them
there are a few CC offers around that could help

Have a look at debtfeewanabe and snowballing.