Loan needed

AngelPoppy

Hi

Looking for some advice if anyone can help. We're in the UK and are planning to move to the Republic of Ireland with the intention of being mortgage free. We will never be able to pay the one we currently have off as its repayment only.
We need to borrow some money to consolidate our debts and to move with and am not sure if we would be able to borrow in the UK and pay the debt off after we've moved or if we should go over and apply in Ireland.
Any ideas?
Thanks in advance

Arleen

You cannot borrow your way out of debt, at best you could lower the rate on existing debt by refinancing but that rearely happens. Do I understand it correctly that you plan to leave the country to avoid existing obligations?

[Deleted User]

AngelPoppy wrote: »

We're in the UK and are planning to move to the Republic of Ireland with the intention of being mortgage free. We will never be able to pay the one we currently have off as its repayment only.

What do you mean? A repayment mortgage will clear the outstanding sum at the end of the term.

AngelPoppy

I'm not looking to borrow my way out of debt or avoid my existing obligations!
I really don't know where you people get off, you are judging me as someone who wants to commit fraud and you don't even know me!!
No wonder people don't like using this site any more...Martin would be disgusted at some of you and the way you deal with people. I have good credit thanks very much and have worked bloody hard to keep it that way.
I expect you'll just wait for the next person to come along now so you can make snide comments at them too.
Have a good day Arleen, I can only hope for karma for people like you...what a complete saddo you must be that you are so judgemental and full of venom!

Arleen

AngelPoppy wrote: »

I'm not looking to borrow my way out of debt or avoid my existing obligations!
I really don't know where you people get off, you are judging me as someone who wants to commit fraud and you don't even know me!!
No wonder people don't like using this site any more...Martin would be disgusted at some of you and the way you deal with people. I have good credit thanks very much and have worked bloody hard to keep it that way.
I expect you'll just wait for the next person to come along now so you can make snide comments at them too.
Have a good day Arleen, I can only hope for karma for people like you...what a complete saddo you must be that you are so judgemental and full of venom!

First you've asked for chances of a concolidation loan, and I have answred that this doesn't work in most cases, as it is in effect trying to borrow a way out of debt.

Then in your OP you've said "We're in the UK and are planning to move to the Republic of Ireland with the intention of being mortgage free." and that is why I've asked, as I struggle to see how moving country would make you mortgage free.

dealer_wins

Another chip on shoulder OP. A lot lately.

MEM62

Arleen wrote: »

First you've asked for chances of a concolidation loan, and I have answred that this doesn't work in most cases, as it is in effect trying to borrow a way out of debt.

Then in your OP you've said "We're in the UK and are planning to move to the Republic of Ireland with the intention of being mortgage free." and that is why I've asked, as I struggle to see how moving country would make you mortgage free.

Your reply was in no way out of order and offered reasonable advice. No accusations in there - just a question seeking clarity. OP being way too sensitive.

TadleyBaggie

26 months ago the OP was in a DMP, hoping to pay it off in 26 months, i.e. about now. If the DMP is still ongoing then further borrowing is out of the question.

AnotherJoe

AngelPoppy wrote: »

Hi

Looking for some advice if anyone can help. We're in the UK and are planning to move to the Republic of Ireland with the intention of being mortgage free. We will never be able to pay the one we currently have off as its repayment only.
We need to borrow some money to consolidate our debts and to move with and am not sure if we would be able to borrow in the UK and pay the debt off after we've moved or if we should go over and apply in Ireland.
Any ideas?
Thanks in advance

Did you mean interest only? Because otherwise that makes no sense.

Why do you need to borrow to consolidate your debts? Why not just continue to pay them off? You'll still owe the same amount when you consolidate them so why do you "need" to?

If you need to borrow money for moving expenses, wont there be some money released when you sell your house? Or is it in negative equity?

andyfromotley

i would imagine that your upcoming move would put the kybosch on any loan possibilities?