Moving House and debt

Newbiejono

Hello, Moving house and Consolidating debt the same time

need to lend approx 81000 to do this.

55000 to pay off current mortgage
18000 Loan 1
7500 Loan 2

Do lenders allows for this?

Edi81

You need to borrow not lend.

Will depend on how much equity you will have in the new property.

Speak to a broker.

Thrugelmir

Newbiejono wrote: »

Hello, Moving house and Consolidating debt the same time

need to lend approx 81000 to do this.

55000 to pay off current mortgage
18000 Loan 1
7500 Loan 2

Do lenders allows for this?

Depends on your credit profile. Debt consolidation is known not to fix the underlying problem, i.e. the cause. There are lenders in the market for all situations. However expect to pay for the their perceived of the risk. Increasing borrowing in overall terms may prove to be a concern. As the lender is simply allowing you to expose yourself to even greater problems. As not just the debt they are helping you with but all the transaction costs of moving.

Newbiejono

I was just woundering if this is normally allowed. or do some lenders not allow debt consolidation I have 45000 equity in my house at the moment