We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!

Mortgage renewal and Loan

Options
Divinity
Divinity Posts: 4 Newbie
Second Anniversary First Post
in Mortgages & endowments
Hi all

My 5 year fixed term is due to finish shortly I roughly owe 70k. I put a 70k down as a deposit. My mortgage is approx £275 p/m.

I also have approx £13k loan debt that cost approx £350 p/m

What i want to know is could I consolidate my loan debt into my mortgage?
Would i be best borrowing on my mortgage and then paying off my own debt?

My Mortgage and Debt is with Santander

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It's theoretically possible, but whether it is your best option depends on your circumstances.

    A long term will see you paying a fortune on interest.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture