Advice for Re-mortgage

danni1968

I have been a long time loomer and have learnt a fair bit with the help from these forums, but now need a bit of advice.

Bought our house in 2005, paid £105,000 and took out a 2nd mortgage in 2007 for extension of £25,000, now owe £85k in total and it has just been valued at £135-142k.

My hubby had a bad accident on his bike 4 years ago, and has only gone back to work in January, we were down to 1 salary and sick pay during this time, this meant we relied on credit cards etc and have now built up a debt of 15k, we have an average credit rating not great as still showing a few of the late payments that happened in the first few months after the income change, we have 1 default which has 2 years left other than that everything is actually up to date.

This is the bit that is killing us, even though he has gone back to work every bit of our salaries are being used to pay the debts, none are on 0% and i doubt we would be able to shift the debt to one at the moment, we have thought of trying to get a mortgage broker to see if a remortgage is possible, as having no savings or being able to see the light at the end of the tunnel is starting to get us both down, after all we've been through just scraping by, the cards are now just a total bane, but they kept us going when we needed the help.

Any advice or suggestions is appreciated, but please can you not lecture me on the use of the credit cards, i have learnt that lesson but it was a case of needs must at the time to get by, i have actually closed 2 of the cards so they cannot be used to spend on!!

Thanks in advance