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Advice Please any IFA's out there!
stardestroyer_2
Posts: 5 Forumite
Can anyone help?
We have unsecured loans of £25k & we are paying £550 per month for these.
We are almost at IVA/DM situation but I've had a thought-
Part of our mortgage (£48300 out of £156000) is interest only & we set up a 'with profits' fund back in 1997 to pay for this (yeah right).
It's worth about £12k if we surrender it & we're paying £83 a month for this.
If I did this would we then have the mortgage company ringing us up asking why we've done this? would they allow this?
I don't think they would let us change our mortgage to fully capital/repayment as we don't have the income multiples anymore :eek:due to redundancy (the wife) & my income is well down since we took out the remortgage back in 2006.
I need this money & I would like advice on the way to do it!?
Please Help!!!:(:)
Thanks for reading & appreciate the advice!
We have unsecured loans of £25k & we are paying £550 per month for these.
We are almost at IVA/DM situation but I've had a thought-
Part of our mortgage (£48300 out of £156000) is interest only & we set up a 'with profits' fund back in 1997 to pay for this (yeah right).
It's worth about £12k if we surrender it & we're paying £83 a month for this.
If I did this would we then have the mortgage company ringing us up asking why we've done this? would they allow this?
I don't think they would let us change our mortgage to fully capital/repayment as we don't have the income multiples anymore :eek:due to redundancy (the wife) & my income is well down since we took out the remortgage back in 2006.
I need this money & I would like advice on the way to do it!?
Please Help!!!:(:)
Thanks for reading & appreciate the advice!
0
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