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Advice please
Muscle750
Posts: 1,075 Forumite
Basically i have applied to Santandar to borrow another £13k on our mortgage and am waiting on a reply all paperwork submitted etc and this will take the amount owing to just on £140k the house is worth £200k.
This will add £102 a month to the repayment, this money will be used to pay off a Nat west loan of originally £25k the settle figure a few months back was £13500 the monthly repayment on this is £378 a month which is basically crippling us. I do relise im going to be paying pack more etc and all that.
Im only tied to Santandar for another 10 months, if they turn round and say no, im gonna struggle as obviously i will be £270 a month better off.
Im wondering if they do say no then if my only real option is to hope and pray i can manage till my tie in is up and going off elsewhere obviously the loan settlement will be down to about £11000 and a bit more will be off the bottom line on the mortgage
This will add £102 a month to the repayment, this money will be used to pay off a Nat west loan of originally £25k the settle figure a few months back was £13500 the monthly repayment on this is £378 a month which is basically crippling us. I do relise im going to be paying pack more etc and all that.
Im only tied to Santandar for another 10 months, if they turn round and say no, im gonna struggle as obviously i will be £270 a month better off.
Im wondering if they do say no then if my only real option is to hope and pray i can manage till my tie in is up and going off elsewhere obviously the loan settlement will be down to about £11000 and a bit more will be off the bottom line on the mortgage
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