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Unlocking Equity?
DelT0103
Posts: 1 Newbie
Hope you could help me please!?
I have a mortgage which is in my wife's name and we have a secured loan with Welcome Finance which has 62 months to go at £400 per month.
My question is refarding potentially unlocking equity in our house as it'is valued somewhere between £170,000 - £180,000 and the mortgage owing is £157,000 GBP.
Welcome have said an early settlement would be £15,000 GBP.
Also we have small matter of my wife being in a trust deed until August 2013.
I think I know the answer to my own question which is to pay off the trust deed and accept the status quo but just incase I might be missing anything I would appreciate any help/advice given.
Thank you
DelT
I have a mortgage which is in my wife's name and we have a secured loan with Welcome Finance which has 62 months to go at £400 per month.
My question is refarding potentially unlocking equity in our house as it'is valued somewhere between £170,000 - £180,000 and the mortgage owing is £157,000 GBP.
Welcome have said an early settlement would be £15,000 GBP.
Also we have small matter of my wife being in a trust deed until August 2013.
I think I know the answer to my own question which is to pay off the trust deed and accept the status quo but just incase I might be missing anything I would appreciate any help/advice given.
Thank you
DelT
0
Comments
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You won't be able to obtain any further secured lending due to your high LTV (loan to value)0
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you dont appear to have £15K equity, so i would just keep paying both off and reducing the LTV on the house.0
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