i need help

playedlynny

Hi
I am new to the forum so pls be kind. I have 16400 left on Mortgage with 19 months on term. I want to pay it off as the deal I was on has ended and they are taking an extra 105.00 a month off me in interest. I have tried re-mortgages and even speaking to current lender and no one seems interested in offering me any other deals. I applied for a Loan but made the mistake of saying it was to pay my mortgage and they said they do not lend for that reason, I have thought about paying it off my credit card but isnt that classed as a Purchase? I am really struggling but very reluctant to keep paying addition £105 for next 19m

MovingForwards

You generally cannot get a mortgage for under 25k which is why you are struggling.

What's your income?

Have you retired or due to retire in the next few years?

How much is your current mortgage per month?

Just wondering if it's viable for you to remortgage for 25k, on a fixed rate interest for five years and have a bit of money in your pocket to either overpay the mortgage or do any work on the property.

If you want to go via the credit card route, which would be very expensive due to the interest rate, I think you would need a cash transfer card.

Best off not fibbing to borrow the money via a loan as if found out you wouldn't get credit for 6 years and would probably have all lines of credit pulled from you.