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Times up
Muscle750
Posts: 1,075 Forumite
My fixed rate comes to end next month there is approx £129k outstanding the house is worth £200k, joint income is £46k gross, I have a loan with Nat west with approx redemption of £11k, Now im wondering do i struggle on and continue the loan payment of £378 a month its got another approx 28 months to go or try and remortgage borrowing another £10k to pay off the loan, Plus we are with Santandar at the moment. I know its gonna cost me more in the long run but it would be slightly easier every month now all the OT and bonus has been robbed and i mean robbed off us.
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Comments
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Santander are unlikely to consolidate unsecured debt into a mortgage.0
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Thrugelmir wrote: »Santander are unlikely to consolidate unsecured debt into a mortgage.
Actually at 70% LTV with the income they have I think they should be absolutely fine to do it in principle.
OP, as long as you are aware of the extra interest you will be paying in the long run by adding it to the mortgage and the extra risk of securing unsecured debt I think you should be able to do this with Santander or another lender.The J is a Financial Advisor-This site doesn't check anyone's status and as such any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Always seek professional advice.0 -
As J rightly says, so long as your mortgage is repayment and the index valuation they hold stacks up they will do this.
Go in with your eyes open about how much you payback and make the right decision for you and your family..
Thrugs - I actually thought we had turned a corner yesterday as some of your posts were actually helpful.
Assume someone robbed your dinner money today as we are pack to type!I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
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