Good mortgage lenders for debt consolidation?

lee111s

virtualinsanity wrote: »

wow - because I 'can't be bothered'? - you know naff-all about my personal circumstances, so go annoy someone else with your embittered, judgemental posts...

I stand by what I said. Bitter is something I'm most definitely not. You seem to think lenders are going to have to lend you the money. They don't, and quite frankly, I hope they won't.

ACG

Im not a huge fan of debt consolidation for large amount but the reality is this is like someone on £30k having about £4-5k on credit cards.

If the OP is in a position where he/she can choose to go down either route then thats their choice.

As you are getting up to 90% LTV, your options for high street lenders who will lend to you is very limited. Based on what has been said it can be done and at normal rates but you will need a broker or to get on lenders websites and check criteria.

virtualinsanity

this forum is hilarious - i'll research myself - thanks for !!!!-all

Thrugelmir

ACG wrote: »

but the reality is this is like someone on £30k having about £4-5k on credit cards.

The reality is that is a lot more to this tale than has been told. Without the full facts anything else is pure speculation.

andys15

Hi. We have just done similar to you. I got turned down by Virgin, but accepted by TSB. Basically we had about 60k debt, but all used for house. Extension, kitchen, garage conversion etc. I had about 180k on my mortgage and just been valued at 325k. I took the mortgage up to £260k and repaying it over 9 years. Taking about 25k out to do boiler bathrooms etc. We got refereed in affordability which is crazy. We get 8k take home per month, once remortgaged we would be debt free. Our mortgage will be about £2700, and household bills included will leave us over 4k per month to play with. The house is less than 2 times our salary, and we got refused. No late payments etc etc. we had manageable debt and was sensible. It is my decision to take it over 9 years.

ACG

There COULD be a lot more to it. But it could just as easily be someone has a decent income has spent a little more and rather than cutting back or concentrating on paying it off would prefer to just pay it back over time.

I have about £5k on a credit card, I could pay it all off tomorrow if I wanted - but I dont want to. In all honesty I can see why the OP has seen his a$$ over this as people do seem to be full of replies which are of no use what so ever.

Yes it might be a better idea to sit in, be a hermit and hammer off the debts. But its summer, beer gardens are calling, holidays are calling and its not like he is in arrears or struggling. He just wants to reduce the payments, and if that costs more in the long run so be it.

lee111s

Granted, but this is a money saving forum