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Advice
Suemik
Posts: 1 Newbie
I'm £12k away from being mortgage free, I currently have no boiler and a few debts to pay can anyone suggest any help to get a boiler and some home improvements done as my house is falling apart. Equity release is not an option as I need to be 55 Yr old so feel I've nowhere to turn!
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Comments
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You could remortgage to get some additional borrowing on your mortgage. This additional borrowing could cover the amount needed for boiler replacement and home improvements. If it is a lower interest rate than your other debts, then using additional borrowing to repay these debts would be a good idea.
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Can you afford repayments on a larger mortgage? It would seem one obvious route.
But it would become secured borrowing.1 -
Would not advise secured debt unless an absolute last resort.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0
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