Halifax further advance for debt consolidation - term limit?

MPEARSON

Hello all

We are considering a further advance on our mortgage for debt consolidation.  

I've been in touch with Halifax directly, who said that there is a "strict" 10 year term limit, whenever there's any debt con.  The monthly payment on a 10 year term would be too high for our affordability.  Our current mortgage has just under 30 years left on it.

Also had an initial conversation with a broker, who said he could deal with the further advance.  Gave him some initial figures, but not a full assessment yet, and there was no mention of the 10 year limit and initial thoughts were that it was doable.  I've also searched the intermediaries website and I can't find any reference to this term limit for debt con.

I know that there can sometimes be differences between dealing directly or via a broker, so can any brokers here who've experience of this please confirm if there is a 10 year limit when doing this via a broker?  

Thanks in advance

K_S

@mpearson No term restriction for Halifax debt-con additional borrowing through a broker afaik.

The reason lenders will often be more 'relaxed' in their criteria through brokers is because when the business is through a broker, we take on all the advice risk and any future complaints, etc.