Re-mortgage - does this sound a good deal??

---lee---

If you husband had all these debts that you were not aware of - how do you know that there are not more?

What happens if you arrange further borrowing and more debts emerge over time?

What happens if he continues with out of control spending?

First stop should be to get credit reports in both your names to see what's listed.

hillcats

I think the first thing to be done is an HONEST chat between the two of you...

getmore4less

neenmarie wrote: »

Yeah just found out yesterday , we have been trying for over 6 months. Anyway I have come on here for financial advice thank you!!!! How rude are you????

Congratulations. but i was being ironic you said in that post

amd this will not be possible if we have to pay out £800 per month

seems it was!

How rude can I get

Start with the truth, only a few(5) days ago you posted

Our property is at a value of around £186,450 and the amount left to pay on the mortgage is £74,000 (we borrowed £129,000 including the interest as we had a large deposit). At the moment we are on a tracker mortgage and our monthly payments are just under £300 per month. Unfortunately we have managed to obtain some debt due to us getting married last year and me being out of work for a few months back in 2009. We are hoping to consolidate our debts with a remortgage and would need to borrow around £100,000 (74,000 left on the mortgage with the current lender and the rest towards our debts/few home improvements).

Not quite the true picture, ok it might have been your view at the time but why rush into anything asuming you have the full picture now.

There are a lot of things yet to be answered(you need the answers not us unless you want comment)

You are focused on a refinance to "fix" the problem but seem to have no idea why you have this problem where has the money gone?

The time line is miissing on mortgage and debt

How long as this mess been building?

Why the big deposit yet you have joint debts?

Why the parental debt?

OH has been hiding debt but are you sure they are all in the open.

Still no SOA

SECURING DEBT puts the house at more risk.

You seemed to ignore the advice from the first thread and looked at remortgage before understanding the full picture where and why you are in debt.

You have still not given any indication of your incomes so it is impossible to assess any plan you have.

How long has this relationship been going who brought in the equity?

if a long time and both of you, why this new spend pattern getting into debt?

Why did you get a mortgage and married(last year) without a credit check?

you also seem to have reduced a mortgage from £129k - £64k but now have £35k of debt

As I said before this does not add up on the info so far.

If you can't explain it to youself(or us) you don't understand it.

How is uncle doing

neenmarie

getmore4less wrote: »

Congratulations. but i was being ironic you said in that post

amd this will not be possible if we have to pay out £800 per month

seems it was!

How rude can I get

Start with the truth, only a few(5) days ago you posted

Our property is at a value of around £186,450 and the amount left to pay on the mortgage is £74,000 (we borrowed £129,000 including the interest as we had a large deposit). At the moment we are on a tracker mortgage and our monthly payments are just under £300 per month. Unfortunately we have managed to obtain some debt due to us getting married last year and me being out of work for a few months back in 2009. We are hoping to consolidate our debts with a remortgage and would need to borrow around £100,000 (74,000 left on the mortgage with the current lender and the rest towards our debts/few home improvements).

Not quite the true picture, ok it might have been your view at the time but why rush into anything asuming you have the full picture now.

There are a lot of things yet to be answered(you need the answers not us unless you want comment)

You are focused on a refinance to "fix" the problem but seem to have no idea why you have this problem where has the money gone?

The time line is miissing on mortgage and debt

How long as this mess been building?

Why the big deposit yet you have joint debts?

Why the parental debt?

OH has been hiding debt but are you sure they are all in the open.

Still no SOA

SECURING DEBT puts the house at more risk.

You seemed to ignore the advice from the first thread and looked at remortgage before understanding the full picture where and why you are in debt.

You have still not given any indication of your incomes so it is impossible to assess any plan you have.

How long has this relationship been going who brought in the equity?

if a long time and both of you, why this new spend pattern getting into debt?

Why did you get a mortgage and married(last year) without a credit check?

you also seem to have reduced a mortgage from £129k - £64k but now have £35k of debt

As I said before this does not add up on the info so far.

If you can't explain it to youself(or us) you don't understand it.

How is uncle doing

Like i have said I didn't know about the debt and when I get married is no business of yours. Seems you are only on here to judge people and not help so if you have nothing useful to say I suggest you keep quite about my personal life, i'm after financial advice. My orginal post was seeking help and after time I had looked into some options and I wanted useful non judgemental advice on my finances, WHICH EVERYONE ELSE HAS DONE BUT YOU!!!. Do you really not have anything better to do than judge other peoples lives. My uncle is just fine and we are really close and he is really open about his money after his passing, not that it should concern you!!! I am no longer going to reply to you as you are just plain rude and seem like not a very nice person. Now Please can I have only people replying about my financial situation and not my personal position, thanks to everyone who has managed to do that!!!!:)

getmore4less

Your finances have gone from appears to have been very good to a right mess

You need to get to the bottom of why this has happened so it does not happen again(which is very common), these are the sort of questions you should be asking yourself.


Your personanal life and finances are not as seperate as you might like to think.