Unemployed remortgage advice needed please!!!

TT2010

I will keep this as short as possible. My brother-in-law was recently laid off from work and is in receipt of sick pay (from DWP) while awaiting an operation. He has, like most people, accumulated debts while working and is now struggling to make ends meet, which has caused him to fall into arrears with his mortgage repayments. Aside from this there is also urgent home improvements needing carrying out.
Is there any way possible of getting a remortgage while out of work??? He only wants to remortgage for a further £10,000 and there is approximately £50,000 in equity in the home. To obtain a remortgage seems the ideal solution as this would enable him to carry out his home improvements and clear his debts, thus being able to comfortably afford the mortgage repayments without worrying about losing his home.
Any advice would be greatly appreciated! Thank you

ILW

How can he comfortably afford increased mortgage payments when he has not been able to pay his bills whilst in work?

TT2010

He was comfortably paying his bills until he came out of work a few months ago. His mortgage on it's own would not be a problem while out of work, but paying that along with other debts is what's crippling him. A small increase in his mortgage would be far less than he is having to find per week for these other debts.

opinions4u

If he's gone in to arrears with his mortgage, when that on its own would be affordable, he has put his house at risk.

Why would he have paid other bills before his mortgage?

The simple answer to the question is, in the current climate, that no lender wants to take on the dodgy debts of another lender.

He should get some proper debt advice. Try the CAB.

TT2010

I think it was a case of juggling payments and believing he could manage it all, which he has now realised is not possible, and would agree himself was silly to put other payments before his mortgage repayments. Thank you 'opinions4u' for your reply!

Evilm

The likelyhood of getting a further £10,000 on a remortgage (or even getting an offer for an equal value remortgage) whilst unemployed is almost nothing.

He can ask around but I cannot see anyone agreeing to lend him the money.

TT2010

Ok, thank you very much 'Evilm'. I thought it was at least worth asking on here what the chances were for him.

getmore4less

TT2010 wrote: »

He has, like most people, accumulated debts while working and is now struggling to make ends meet, which has caused him to fall into arrears with his mortgage repayments. Aside from this there is also urgent home improvements needing carrying out.

Not lke most people at all thats a rubbish statement.

He was over spending while in work.

How much other debt is there?
If he stops paying them can he afford the mortgage then?

With Mortgage arrears forget an new lender or more money.

Might be best to sell up and start again when the income returns.