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Re-Mortgage to pay H2B

Buddyco88
Buddyco88 Posts: 1 Newbie
in Mortgages & endowments
We are hoping to re-mortgage to pay off our help to buy this year but are worried that we won't be approved for the higher amount.

We currently have £95k on our mortgage and need to add on about £37k, our house has about £85k of equity in it.

However, we do have some debts, £25k on a loan for car and then about £10k on credit cards.

Our current salary between the 2 of us is about £65k.

Do you think we'll likely be accepted? Are we better to try and stay with the same company?

Any advice is much appreciated. 

Comments

  • amnblog
    amnblog Posts: 12,753 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yes, it is likely you will be accepted
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • silvercar
    silvercar Posts: 49,735 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    If the interest rate on the HTB is lower than your general mortgage rate, why be in a hurry to do this?
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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