Dont Be Put Off By Advice

Xbigman

If you are on a DMP then you were lucky to get that rate from C&G. If you went to the open market you would end up on sub prime rates, which start around 7% if you are lucky, and typically run around 8 to 8.5%.
Is any of your 30k secured against your property? If it is you would have problems getting a remortgage at all without clearing all the secured lending with a huge expensive new mortgage.

Whether or not you should add that 30k to your mortgage is debatable anyway. Generally this sort of consolidation does not work in the long term, is very expensive and secures a lot of unsecured debt unnescesarily. I don't know enough of your financial background to say consolidation might help you, but I suspect not.
Overall the C&G deal is pretty good in your circumstances, and the longer you fixed for the better.
Regards




The 8% comment was me. As has been pointed out, my information was out of date and sub prime rates have fallen whilst more high street lenders are drifting into sub prime markets (allegedly).
However, I stand by the point of my post in that the OP did not provide any financial background to their debts and I seem to be the only one who tried to warn of the pitfalls of consolidating and increasing the mortgage.

Where as I freely acknowledge that the advisors who post on here know alot more than me about mortgages, maybe they are not the best people to ask whether or not the person needs a remortgage.
Regards



X

Xbigman

Hmmm. That looks quite harsh. No insult intended but its how I feel.
Regards



X

AndyWallace

kenshaz wrote:

I told you that the clique would arrive ,like magic,and just read my post no personal comments ,just compare my post with the one above and all is revealed.I wish they could forget about me and just peddle their wares.Also watch how they support each other with clicking each others thanks .Also observe how she draws in the support of the other brokers,.The other brokers will now pile in.Also you get ,the want to be brokers ,who work for the institutions as tied advisor's who follow the trail of fish like sea-gulls giving additional support.

lol. Quite funny.

Andy

herbiesjp

Welcome back Kenshaz - long time no see

MortgageMamma

kenshaz wrote:

I told you that the clique would arrive ,like magic,and just read my post no personal comments ,just compare my post with the one above and all is revealed.I wish they could forget about me and just peddle their wares.Also watch how they support each other with clicking each others thanks .Also observe how she draws in the support of the other brokers,.The other brokers will now pile in.Also you get ,the want to be brokers ,who work for the institutions as tied advisor's who follow the trail of fish like sea-gulls giving additional support.

You are in the wrong forum mate! Comedy is in the moneysavingarms.

when you say something constructive and helpful to forum users rather than waging your own personal vendetta about against advisers who have upset your delicate balancewho do not glorify L & G then you may be taken seriously.

Also, seagulls arnt around to support fish - they actually eat them. Analogy doesnt really work.

When did they let you out by the way?

_Andy_

kenshaz wrote:

I told you that the clique would arrive ,like magic,and just read my post no personal comments ,just compare my post with the one above and all is revealed.I wish they could forget about me and just peddle their wares.Also watch how they support each other with clicking each others thanks .Also observe how she draws in the support of the other brokers,.The other brokers will now pile in.Also you get ,the want to be brokers ,who work for the institutions as tied advisor's who follow the trail of fish like sea-gulls giving additional support.

Absolute genius. Very entertaining.

kenshaz

herbiesjp wrote:

Welcome back Kenshaz - long time no see.

Nothing has changed.

payless

see threads

http://forums.moneysavingexpert.com/showthread.html?p=3334917#post3334917

I have no idea if Xbigman is in the industry-
either way he raised some good points

BUT the comments in
http://forums.moneysavingexpert.com/showthread.html?p=3280060#post3280060

seem fine to me

payless

I was advised by several people on this column that I would be lucky to find another lender willing to lend below a rate of 8% & lucky to even to find one to lend at all!

That does not really look the case from the threads

although would agree with

dont take everything you read on here as gospel go to a broker to see how the land really lies.

kenshaz

The original poster has an opinion,very often other post's can shoot from the hip and dishearten individuals it is the nature of public forum's and once again follow Martin's advice and realise the nature of the discussion because that is what it is.Always confirm and verify pointers that you might receive,sending you in a direction without commitment.
I would also give note to those who have delusions of grandeur.