Buying a house and paying off debts

Kadams94

Hi me and my partner are looking to buy a house. The only thing is that we have a little bit of debt. My uncle is going to put a big chunk of money towards it but we was just wondering is it possible to actually get more of a mortgage than what is needed to pay off our debts so put monthly outgoings are all in one payout and will be less interest

dimbo61

Well done to your Uncle for helping by GIVING !!! you a deposit but you need to clear YOUR DEBTS first not add them to your mortgage debt.
How have you managed to run up the debts?

moneyman12345

the above post is what is wrong with this forum, someone comes on looking for advice, and gets pelters! Chill out dimbo61, go to the gym and hit a punch bag or something

nomoneytoday

You may be moving debt from unsecured to secured.
IMHO you should consider this issue, in the event of a default (going from a ccj to a potential repo)

GRBWA

dimbo61 wrote: »

How have you managed to run up the debts?

What on Earth has that got to do with you and what relevance does it have to the question posed?

Thrugelmir

Kadams94 wrote: »

but we was just wondering is it possible to actually get more of a mortgage than what is needed to pay off our debts so put monthly outgoings are all in one payout and will be less interest

From a lenders perspective you wouldn't look a good risk for obvious reasons. Nor is mortgage lending priced for debt consolidation. If your Uncle is looking to assist you. Then perhaps this is the spur you need to address your debts head on yourselves. As on the face of it appears a to good an opportunity to spurn.

termhero

GRBWA wrote: »

What on Earth has that got to do with you and what relevance does it have to the question posed?

There's sensible, manageable debt and irresponsible debt? I don't know if debt is rated accordingly but I would consider it might impact a lender's view on whether to lend or not?

Foxy-Stoat_3

Kadams94 wrote: »

is it possible to actually get more of a mortgage than what is needed to pay off our debts

Keeping on topic, then answer would be no.

You can just reduce the amount of your saved cash deposit for the mortgage and clear the remaining debt if you like, but that will reduce the likelihood of you securing a (good) mortgage rate, depending on your LTV%.