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Remortgage - End of variable rate tie-in.
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unclebatman
Posts: 44 Forumite
Hi all,
I asked this as a tag-on to another thread, but was told to restart it as a new post. Apologies if I'd not read rules properly.
Could I have a little guidance please ?
I'm shortly due to come to the end of my tie in with Northern Rock (2 yr fixed deal, then 1 yr on variable rate) and want a new deal.
Current details are: £77,000 outstanding on mortgage, plus unsecured loan needed at the time of £5,500 to top up, therefore overall balance £82,500. Plus £9,000 in further loan (5 years of 7 year loan remaining) and £3k credit card. House value is now approx £120k.
Total outstanding overall = approx £95k.
What's my best way forward, and who with ?
Any guidance would be appreciated
I asked this as a tag-on to another thread, but was told to restart it as a new post. Apologies if I'd not read rules properly.
Could I have a little guidance please ?
I'm shortly due to come to the end of my tie in with Northern Rock (2 yr fixed deal, then 1 yr on variable rate) and want a new deal.
Current details are: £77,000 outstanding on mortgage, plus unsecured loan needed at the time of £5,500 to top up, therefore overall balance £82,500. Plus £9,000 in further loan (5 years of 7 year loan remaining) and £3k credit card. House value is now approx £120k.
Total outstanding overall = approx £95k.
What's my best way forward, and who with ?
Any guidance would be appreciated
0
Comments
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Could you post your incomes please.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
An 80% debt consolidation remortgage is possible.
Do you have any redemption penalties?
Do you have a help with costs to pay back?
What is your income or are your incomes, my dear.
Luv
LipstickI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, 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 -
Hi
Annual income is £26k
My girlfriend has just moved in, though not naming her on the mortgage (at this stage, that might happen in the future) and pays a basic 'rent' of £200pm.
Fee is £2,500, expiring 01/09/07, so want the remortgage to tie in with that expiring. HWC is £1,000, but I'll have to pay that anyway, as this doesn't expire until Feb 08.0 -
unclebatman wrote: »Hi
Annual income is £26k
My girlfriend has just moved in, though not naming her on the mortgage (at this stage, that might happen in the future) and pays a basic 'rent' of £200pm.
Fee is £2,500, expiring 01/09/07, so want the remortgage to tie in with that expiring. HWC is £1,000, but I'll have to pay that anyway, as this doesn't expire until Feb 08.
On the face of it, this can be done, no problem.
As mortgage offers are for three months and can be extended, you may want to get the ball rolling with a clear mandate to your solicitor not to complete until 01/09/07
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
Some lenders issue offer letters valid for 6 months as wellI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, 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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