Husband accrued 50k debt without telling me

ManyWays

7ish is an OK rate so I suggest you ask the broker what the early settlement terms would be on that second charge and whether you could get it just for the loans your husband took, not the 0% credit cards. 

Please put the names of the lenders and the interest rate on the loans your husband took when you do the SoA. 

EssexHebridean

It's impossible to say whether 7% is a rate that is OK or otherwise without the rates for the existing loans, and without the SOA the OP shouldn't really be being pointed in any particular direction, as yet. 

OP you are both on excellent income - it seems highly likely that you can tackle this debt without needing to risk your home. You need to follow the steps - SOA filled in with as much detail as possible, and with honesty about current lifestyle and spending. Then a review of current lifestyle and decision made about whether cuts can be made. Don't make any knee jerk reactions that may well turn out to be poor ones. 

shinelight1

ManyWays said:

7ish is an OK rate so I suggest you ask the broker what the early settlement terms would be on that second charge and whether you could get it just for the loans your husband took, not the 0% credit cards. 

Please put the names of the lenders and the interest rate on the loans your husband took when you do the SoA. 

Thanks. This is exactly what I suggested and we have asked the broker for figures. It looks as though if we went this route then the monthly payment would be the same for the cards and 50k on second charge. But with less risk on the house. It’s actually turned out a lower interest rate this way. Husbands loans are way more interest than this but obviously on a shorter period. No EPC which broker says is unusual. 

We are still working on the SOA. 

ManyWays

Good information to have, dont rush in though, the SoA should give a fuller picture. After that you need to summarise the pros and cons of the different options