Adding consolidation loan to alliance and leicester/santander mortgage.

dprovan

Hi,

I am specifically looking for the oppinions of mortgage advisers on the site.

• I have 18 years left on my mortgage. Originally borrowed 245k. Remaining balance is approx 209k.
• Bought house for 295k in Jan 2006. But price was agreed march 2005.
• I estimate the value of the house is now £335,000. I live in N Ireland and house prices have dropped significantly in the last couple of years but big regional variations.
• I have 43k of debt on ccs, loan, overdraft.
• My salary is 44k, my wifes salary is 31k
• 3 children

So my mortgage was with alliance and leicester now santander. Do you think santander would consider this additional lending?

I am aware of the general consensus re consolidation being a bad idea and im sure there will people who will want to explain the importance of me understanding how we got into debt and managing money. I do understand this and dont want to get into the justifying how it happened and how things are different I just want the oppinion of people who deal with this daily.

many thanks

Simon_gloster

If your credit history is ok and seems LTV is fine, the only issue will be your debt to income ratio ie what you currently owe against your current income.

Thrugelmir

dprovan wrote: »

I am aware of the general consensus re consolidation being a bad idea and im sure there will people who will want to explain the importance of me understanding how we got into debt and managing money.

£43k no way.

As the consolidation of debt will not resolve the fundamental issue in the lenders view. You will be placed in the category of likely to re-offend in the future. The issue needs to be addressed by yourselves head on, the easy option is not available to you.

dprovan

thanks makes sense what you are saying.

Any mortgage advisers with a view?