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Remortgage to pay off debt?
weston800
Posts: 60 Forumite
During covid (inc job loss) for my husband, we’ve wracked up £50k debt. Thankfully he is now full time employed. We are making required payments on time for our debt and always try to pay extra when we can.
We are due to select a new mortgage rate in Jan 2024 but can apply as soon as October and we were considering looking at remortgaging to pay off the £50k debt - is this possible?
Joint income £60k, aged 34 & 32
House value £210k
Owed on mortgage £126k
Years left on mortgage 25
Joint income £60k, aged 34 & 32
House value £210k
Owed on mortgage £126k
Years left on mortgage 25
0
Comments
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Bad idea to go from unsecured debt to secured, especially bad if you are keeping up payments. Wrong board for this though. Try “debt free wannabes”0
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Ah, damn. I’ll move it - thank youSuperExcelMan said:Bad idea to go from unsecured debt to secured, especially bad if you are keeping up payments. Wrong board for this though. Try “debt free wannabes”0 -
I've requested a thread close from the forum team as this is now being dealt with on DFW.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her2
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