Nat west chat

Muscle750

Well today i went for a chat purely voluntarly at Nat west the situation is as follows basically we have about £25k of unsecured debt inc a nat west pl of a balance of £15k. Our mortgage balance is approx £130k with santandar which our 5 year fixed deal ends in november they have told me i can secure a new rate in July.
Nat west advised me to put another £25k on my mortgage and save myself alot of money. The way i view it is weve been struggling now for 2 years yet nobody is chasing and everyone is been paid ....just.
WEve got 3.5 years left on our Nat west pl and 4 years left on another part of our total of £25k. They suggest that this is best option from where im sat thou our house is worth £200k and putting our mortgage to £155k isnt the best long term option short term possibly long term not. Plus my father is quite elderly and when anything happens to him i shall have about £75 to 80k coming my way he is now aged 93.
Yes we are struggling but i really dont want to have a £155k mortgage because even if i do fix it for two years who knows what interest rates will be then plus in two years my nat west pl balance will be obviously alot lower and so will my other lending.
Any suggestions ok we struggle yet have a nice large modern house and to me unsecured is "safer" than secured if any nasties do rear their ugly heads

FuzzyCub

I wish I had never touched a secured loan, and whilst it might make it cheaper each month your going to pay so much more adding it on to your mortgage. The only people this deal looks good for is Natwest.

You'd be much better posting a SOA for the good people her to look at and suggest ways of paying down your loans.

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