Help

Sim1_3

Hi and firstly thank you to anyone who can help me. I live with my partner who is 41 and I am 23. The mortagage is in his name and cost 37,000 it is now about 32,000 and the value of the house is £80,000 to £90,000. We have debts of around £7000 and want to pay these off plus afford to spend about the same on doing the house up. The fixed rate part of the mortgage ended about two years ago I found out. So I think that that means we dont have to pay a fee to leave. I'm really clueless about all this as I grew up renting. I know my partners credit score is not good. I ve not yet checked mine but I am repaying a credit card that was stopped because of non repayment. That wil take about six months to pay off and an overdraft of about £1600. The problem is about which way to go from here. I'm thinking remortgaging for about £15000. But swapping lenders as we're being charged 7.2%. I spoke to a bank already who said they can lower that by about £100/month including buildings and contents insurance. Also we want to do the house up so we can move in a couple of years and increase the value of the house as some people in our street have done that and the value of their houses have reached over £100,000. I'm just looking for some advice really as I'm the one who sorts out the financial side of things. And I'm worried about making a mistake and getting it wrong for my partner. Thank you and sorry for sounding so clueless.

debjam

if you look at a lot of the threads on here they advise you speak to an all of market mortgage broker who can look at all the deals that are out there. It is also worth looking around for insurance and not going through who you have your mortgage with as you can usually get better deals that way as well.

Good luck with it all.

Sim1_3

Thank you.I will do that cheers for reply