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advice please - remortgaging options

Hi all,

We are due to remortgage in August.

I owe £85k on a house worth £120k (or therabouts). We have 27 years remaining.

I have a fair bit of equity there as you can see. What can I do with this equity? I also have a personal loan which I may combine with the mortgage. I also have a bit of room for increased monthly payments, should I reduce the term?

My options:
1. Use £8.5k of equity to pay off personal loan.
2. Use some equity for home improvement (although I am already close to ceiling for area so wouldn't add much value).
3. Increase monthly payments to reduce term.

I can afford a total (including loan and mortgage) of £700 per month.


Anyone got any advice on my best way to go? Are there any options I haven't considered?

Thanks
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