We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Remortgage early
Wozza85
Posts: 128 Forumite
With rates going up our current deal ends January 2024 but thinking of remortgaging now and potentially taking the early payment hit.
With 20k between us on Cards, and 3 year car finance.
We are looking to remortgage and take some money out to clear debt and do our kitchen out.
We have house value at 400k, current mortgage at 210k and wanting to take out 60k when we remorgate. Does this seem reasonably do-able?
No missed payments, ccjs etc.
Earn 35k and 47k
With 20k between us on Cards, and 3 year car finance.
We are looking to remortgage and take some money out to clear debt and do our kitchen out.
We have house value at 400k, current mortgage at 210k and wanting to take out 60k when we remorgate. Does this seem reasonably do-able?
No missed payments, ccjs etc.
Earn 35k and 47k
0
Comments
-
@wozza85k Based on the limited info in your post, the numbers look comfortable for the 270k at < 70% LTV that you require.
I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
0 -
Thanks for reply.
We're going to speak to a broker about this but just wanted some feedback here beforehand.
But I'm guessing if LTV is below 70% that is a good starting place providing credit report are all fine etc.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards