Re-mortgage? What would you do?

L0701738

Hi there,

I currently currently have 2 loans (around £7k to be paid off between both) and I owe £6.5k pcp in June. I also have £10k tuition fees to pay in August. I was going to take a £10k loan and sell the car to pay most of the fees but I’m worried I won’t get a loan or sell my car in time with this virus. 

I have a flat worth around £80k with no mortgage, is there any way I could re-mortgage this in order to release equity given the current situation? What type of mortgage is best? I still have a job which I started 9 months ago but I think I’m pretty secure there. 

What would you guys do in my situation? 

Unicorn_cottage

What are you studying?

Thrugelmir

Mortgage is just the name for a secured loan. The mortgage being the legal charge on the property to secure the debt. 
There'll be options for you. Ring a local mortgage broker for guidance.