Current mortgage tie in deal ends tried to borrow additional monies for debts refused advice please

partridge19

Spoke to current mortgage lender bank regarding additional borrowing for debts incurred from significant home improvements since moving in plus luxury holiday 🙈 total £24k. Long story short said on affordability refused. Had they approved all debts would be clear and I’d be over £400 month better off to what I’m paying now just paying minimum balances achieving nothing. I have equity in property and if I didn’t have debts and was approaching bank it comes to 4 times salary what I wanted to remortgage to borrow. As they performed search this will be negative on credit file is it worth approaching broker or should I just stick , get product transfe4 and keep chipping away . Thanks

Thrugelmir

See what savings you can eek out of your budget to increase your monthly repayments to clear your debts quicker. Lenders are going to be very cautious in the current climate.