Loan before remortgage 29 November 2014 at 5:38PM in Mortgages & endowments 4 replies 732 views

Summ14

Hi

Just wondering if I was to get a loan to consolidate credit card debts about £7k to ensure its a set payment and ensure its paid back in a certain time frame. How long would you leave it before starting a remortgage?

We should hit 65% ltv March/April time and we were looking to remortgage then and borrow about £20k extra.

Currently we owe £128,000 house was valued at £195,000 8 years ago and want to remortgage at £150,000. Our dual income is £51k but OH might be getting a promotion which would boost it by at least £10k.

What are chances of this being accepted if we remortgage before we should with me possibly getting a loan.

Hope this makes sense.

Many thanks in advance

Thrugelmir

Never advisable. Best to focus on current debts. Before borrowing yet more.

Contemptuous

What is the extra £20k for?

Summ14

My OH got a loan for home improvements and want to add it to the mortgage. The separate loan is for me and wanted to sort it before remortgage as its my debt not the OH's and didn't want to add that to mortgage as its not his debt

Thrugelmir

How much debt unsecured do you currently owe in total between you?