Unsecured Loan

bluebird1927

Hi any advice appreciated.
Got a mortgage with Nationwide,plus unsecured loan.
Took out an unsecured loan for £15000 , have met the payments no probs, spent the loan on home improvements.
Have been made redundant can meet mortgage no probs but struggling with loan.Havnt missed any pmts YET.
Can they repossess the house ,if I miss loan payments, I think as long as I dont miss the mortgage pmt they cant.
Know it would cost in the long un but could I encorporate loan into my mortgage to cut down outgoings till things pick up.
Thanks in advance

unhappy_with_ecar

Your loan is unsecured so no they can't repossess your house. Don't try and put the loan on your mortgage, why give the bank security for an unsecured debt. If you think you will have a problem paying the loan, then ring your bank and talk to them, presumably you will be looking at getting another job as soon as possible, so the bank should be looking at this as a short term problem. If your payment history is good, ask them for a payment holiday from the loan until you get back on your feet. If things get bad, you can also ask for payment breaks or interest only payments on your mortgage until you get sorted. The most important thing is that you talk to them. Check whether you have any payment protection cover with the loan and mortgage which will pay them both while you are unemployed. While you are unemployed, make sure you are getting your full entitlement to benefits, including council tax benefit and mortgage interest payments. The latter can be a bit complex and there is a delay in it being paid but it may well be something that will help.

Good Luck