Switch to One Account- good idea???

Louise4793

Hi, sorry if this has been listed before.

I live alone and own the property on my own. I earn £17,500 a year. My mortgage repayments are a bit too high for me to pay alone- £412 per month!!!!!

My mortgage is £64,500.

I have a £4,800 loan. I dont have the best credit rating i'm afraid.
I have seen on TV the adverts for the One Account and have heard some stories about people getting a good deal from them. Is it worth doing? Would they take me on with a poor credit rating and also with possible debt consolidation? Would my mortgage repayments go down? The website they have is v.v.v.v.v.v confusing!

Any help would be appreciated.

Thanks in advance!

xxx:money:

Gorgeous_George

You need the lowest interest rate that you can get (taking into account set-up fees etc).

The oneaccount is no magical cure-all and does not offer the most competitive interest rate.



GG

Rick62

No, One Account tends to be expensive. They market themselves on the flexibility, but other lenders have flexible products that are usually cheaper.

You need to find a local fees free broker who you can go through your situation with.

JoeK_3

Louise4793 wrote: »

Hi, sorry if this has been listed before.

I live alone and own the property on my own. I earn £17,500 a year. My mortgage repayments are a bit too high for me to pay alone- £412 per month!!!!!

My mortgage is £64,500.

I have a £4,800 loan. I dont have the best credit rating i'm afraid.
I have seen on TV the adverts for the One Account and have heard some stories about people getting a good deal from them. Is it worth doing? Would they take me on with a poor credit rating and also with possible debt consolidation? Would my mortgage repayments go down? The website they have is v.v.v.v.v.v confusing!

Any help would be appreciated.

Thanks in advance!

xxx:money:

It would appear that you need the services of a good whole of market mortgage adviser.

Why you have this sudden urge for the One Account I don't know as this mortgage is more suited for people with savings to offset against their borrowings.

Have look at a good remortgage product that will reduce your mortgage payments and as interest rates are on the up, consider a good fixed rate for stability.

JoeK