Remortgage with CC Debt

Paulo123

Hi, I was on a 2 year fixed which ends at the end of June, we have about 20k in CC debt, payments are interest free and paying just over £400 a month off in total.

Is this likely to cause me an issue getting a remortgage?

LTV is about 85%

TIA

ACG

It wont be a deal breaker in itself, but it will depend on various things:
1) your income
2) whether there are any debt to income rations
3) whether it passes the lenders affordability.


If your income is £41k it might be fine with some lenders or at least pass initial criteria. If your income is £39k it might be an outright decline based on it being over 50% debt to income.

You really need to check debt to income rules with the lenders and the affordability calculators or speak to a broker.

Alternatively, you may be able to just switch products with your current lender who will probably not do any checks.

Paulo123

My income is 60k and wife!!!8217;s is around 25k.

Current mortgage is with skipton if that helps

ACG

It should be fine, but you can always just switch products with skipton online if you prefer. I do not think they are overly competitive at the minute, but they are rarely too far from the best buys.