Remortgaging advice

mcarthyryan

Hi All,

I'm hoping to get some advice from you guys in the know

I originally got a 100% mortgage about 5 years ago now with Cheltenham & Gloucester, which was fixed for 3 years, then went on to a variable.

I'm thinking of remortgaging for two reasons really; 1, to get the best deal or make my current deal better & 2, as I am in need of about £2000 at the moment.

I have a £10,000 car loan with Halifax, and due to unforseen circumstances needed home repairs over the winter so needed to put £3000 on my credit card.

My credit card is nearly paid off now, but my car is playing up and have been quoted approx. £2000 for repairs (I could have cried).

I really don't want to use my credit card again, so could I remortgage with someone, but get an extra £2000 added on to what I currently owe C&G?

How do I actually go about remortgaging? Phone up lots of companies (inc C&G) or go and see a mortgage broker again like I did for my original mortgage?

The area I live, house prices have luckily risen, so I *shouldn't* be in negative equity.

Any advice would be great!

Thanks a lot

Wh05apk

To remortgage, you will need to have at least 15% equity, if you took a 100% mortgage 5 years ago, I doubt you will now have that.

I have not and will not make any judgemental comments about paying for your car repairs on the mortgage, I will leave that to others.

mcarthyryan

Any other advice?

delmar39

Best thing you can do is read the remortgage guide on the MSE website. It gives you all the advice you need. Then if you have any unanswered questions, post them on here.