Stuck in Mortgage, help me plan please?

mortgageprisoner

Hi, 

I’m in an interest only mortgage with ex northern rock and have a high LTV. I know I need to reduce my LTV in order to remortgage but I’m unsure which way to go about this and would really appreciate some help. 

Myself and my husband have a decent combined income (average about £100k) our house is worth £225k, there’s currently £209k on the mortgage. We have a excellent credit rating. (Back on our feet after a really tough decade) We have about £4k credit card debt (interest free) 

We’ve just had to pay an extortionate amount to purchase our lease but now have about £1200 per month disposable income 

My question is, do we start paying the £1200 per month off the credit card or focus on the mortgage? Writing it down seems like a stupid question but I’m really concerned that interest rates are going to shoot up and I’m paying over the odds already (4.5% variable) 

Would we be able to apply with credit card debt?

Would the mortgage company need to see a period where we weren’t using most disposable income to pay either mortgage or card? 

Any Advice would be gratefully received, I’m aware that it’s ridiculous to be in this situation with a decent income but we’ve only been in this position the last few years and had nursery fees and the lease to buy to make the house mortgageable 

Thanks