Adding debts to a mortgage

daleyland19

Hi All,

Are the days of adding debts to a mortgage done and dusted? We have around £12k of debt at the moment and bought our first home in december 2007 on a 100% mortgage. Do you think we could add these debts to the mortgage? I know the reasons why we shouldnt do this in terms of paying alot more in the long run but we cant get a loan for that amount because we already have £12k of debt, its like a perpetuating cycle, cant get the loan because we already have the debt and so cant consolidate.

Thanks in advance.

beecher2

You have absolutely no chance as you have no equity in your house and are possibly in negative equity.

Have you posted a Statement of affairs on the debt free website? You'll get help on paying off the debt, rather than moving it around.

daleyland19

I pretty much knew we had little chance, I just wanted it confirmed really. No I haven't posted on there, I will take a look and see if I can gleen any help from them.

Thanks