Moved out of parents address - time to balance transfer

retiredbanker1

OP Can i have contact details of your mortgage broker please?

The ones I know would not get me a mortgage with that level of debt unless of course you come from a very well to do family and perhaps a parent has signed a guarantee for you?

Emmia

It seems the OP has posted before about his (increasing) debt levels and hiding what he owed from his parents who (presumably) put up the £185k deposit the OP used to buy the property - so this isn't new debt. Unfortunately, I'm not really sure the OP has woken up and smelt the roses on this one.

https://forums.moneysavingexpert.com/discussion/6623200/mortgage-and-credit-cards

FrancisBegbie

The debt was there when I got the mortgage.

I got the mortgage no problem.

I need to extend the interest free period by balance transferring the lot then pay it off using my lump sum bonuses I will get in work this year.

FrancisBegbie

https://forums.moneysavingexpert.com/discussion/comment/81875854#Comment_81875854

I need to transfer to interest free then pay off with my bonuses

Isthisforreal99

https://forums.moneysavingexpert.com/discussion/comment/81879238#Comment_81879238

What you 'need' and what you get may be very different.

FrancisBegbie

https://forums.moneysavingexpert.com/discussion/comment/81879345#Comment_81879345

Hi, yes I appreciate that, that's why I've come on here asking what people think is probable based on their experiences. I'm also thinking should I save myself the stress and just balance transfer now.

born_again

https://forums.moneysavingexpert.com/discussion/comment/81879461#Comment_81879461

No can tell just what any lenders risk appetite is going to be at any point.

Marketing may want to increase CC accounts, then risk say hang on we are taking on too much debt. It's like a tide in & out 🤷‍♀️

FrancisBegbie

I’ve just applied for one balance transfer card and got £11,3000 limit interest free for 34 months so there’s more than half of it successfully transferred .

I’ll do the same for the rest hopefully

COIAHLGW

Call me just a little sceptical about this whole story.

Moving out of parents house having 17k of debt

Now owning own place, presumably increasing expenses.

After the move, able to obtain 0% balance transfer of 11.3k

I have heard of green fingers for gardening, wonder if there is a credit equivalent!

FrancisBegbie

https://forums.moneysavingexpert.com/discussion/comment/81882360#Comment_81882360

Yeah, I was pleased with that tbh. I mean, I have small mortgage monthly mortgage payments not over £550, no kids, no cars on finance, a good credit score, and I never miss a payment on anything. Hopefully I will be able to transfer the rest in a month or so.