We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Re mortgage
chaplin1409
Posts: 101 Forumite
Morning,
We currently have a mortgage and need to do some work on the house so was looking at re mortgaging and adding on some loans that we already have which will hopefully mean bringing down our monthly out goings but would also double our mortgage and exceed our loans from 4 years to 12 years. Would we be better to just play around worth our loans to get the extra for the work on the house and leave the mortgage alone?
We currently have a mortgage and need to do some work on the house so was looking at re mortgaging and adding on some loans that we already have which will hopefully mean bringing down our monthly out goings but would also double our mortgage and exceed our loans from 4 years to 12 years. Would we be better to just play around worth our loans to get the extra for the work on the house and leave the mortgage alone?
0
Comments
-
Its always better to keep the mortgage going in one direct, downwards.
Its never a good idea to turn unsecured debt into secured debt, unless you have a short term exit plan.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards