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High income high debt mortgage challenge
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High level of unsecured debt, presumably...0
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I earn a really good salary, have high mortgage and high debt. Debt all managed well - all paid on time and above the minimums, but credit score is low. To consolidate all of this into my mortgage would save me over £2000 a month in payments, yet I can't get a new mortgage (current rate 4.95%). Why can't lenders see that actually this is a safe bet vs what I pay now? Any advice or lenders you know that could help?
Because its not.
You have a high level of debt despite earning a 'really good' salary. This suggests that you live beyond your means. Lenders quite rightly suspect that you will continue to do so, and at some point the debt merry go round will have to stop and someone will be left holding the baby.
As previously suggested, visit the DFW board, post a statement of affairs and set about tackling this debt.£1000 Emergency fund No90 £1000/1000
LBM 28/1/15 total debt - [STRIKE]£23,410[/STRIKE] 24/3/16 total debt - £7,298
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