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Advise Needed Debt Consolidation onto mortgage
th081
Posts: 181 Forumite
Hello
I need some advice, i currently have a mortgage outstanding of 75K with a house value of 170k. I need 25K for debt consolidation, and hence wish to borrow more against the house, the reason i built up the debt will not occur again.
My question as i have a good mortgage rate at the moment (base + 0.65), is my only option a re-mortgage, or can i approach my building society (coventry) for the additional money at a different rate while still keeping the original mortgage. Can i approach another company for a second mortgage.
My salary is 42k.
Thanks in advance.
I need some advice, i currently have a mortgage outstanding of 75K with a house value of 170k. I need 25K for debt consolidation, and hence wish to borrow more against the house, the reason i built up the debt will not occur again.
My question as i have a good mortgage rate at the moment (base + 0.65), is my only option a re-mortgage, or can i approach my building society (coventry) for the additional money at a different rate while still keeping the original mortgage. Can i approach another company for a second mortgage.
My salary is 42k.
Thanks in advance.
0
Comments
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I would never change an unsecured loan into a secured loan regardless of whether the debt that built up won't happen again.The Cabbage
Its Advice - Take it or Leave it:D0
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