HSBC won't port our mortgage and we can't afford to stay here. Lowest point ever.

pandapaws

Phew, you guys have been busy. Once again, thank you to everyone for taking such an interest, and the support really is appreciated, as is the constructive criticism.

Going BR just isn't an option - what would be the point? We borrowed money with the intention of paying it back, and now we're paying it back - fairly simple to me. Only difference is that we've got a bit fed up paying it back, and so we're trying to do it faster than before. My figures definitely aren't Jackanory - after the move, we'll be paying about £2-2.5k a month off debts, which is 30k a year. We should therefore be fairly close to debt free in 2 or 3 years. The figures have all been snowballed, and at the current rate of repayment we'll be clear in about 4 yrs.

Redundancy was mentioned - without going into detail, that simply won't happen unless something medical happened, which is fully covered through a work scheme. We're extremely lucky to have very secure jobs - I totally take on board what you're saying.

ZTD - thanks very much for that link - that's interesting, and I wasn't aware of that, maybe it could help others? It has gone to HSBC underwriters now and they're reconsidering our application, but we're changing anyway, simply because we need to get shifting having wasted over one week of our 8 week deadline. Worked out that even after redemption we won't be much worse off with the Halifax than we are with HSBC. And I know who I'd rather hand my cash over to each month!

Pania -:T . I'm sure that knowing what you do about debt you most certainly are very thorough with your advice. And what you say is correct - we have had to jump through a few hoops to secure lending from Halifax: we had to produce all payslips, accounts, bank and credit card statements because we probably are quite an unusual case. Fortunately, once the details had been verified by a person who was happy with it, the computer said yes as well!

Cuddly-wuddly was definitely what I was looking for when I first posted - I admit that was a very self-indulgent, whinging post. But I honestly wouldn't be moving house if it wasn't the right thing for us.

ignorance-is-bliss

If you still get alerts on this, How did it pan out, because I find myself in EXACTLY the same dilema as of yesterday with my Nationwide mortage. There is no common sense as the Nationwide has the same if not more risk if I stay put than if I move.

lunar

ignorance-is-bliss wrote: »

If you still get alerts on this, How did it pan out, because I find myself in EXACTLY the same dilema as of yesterday with my Nationwide mortage. There is no common sense as the Nationwide has the same if not more risk if I stay put than if I move.

It might be worth sending panda a PM, the forum moves so quick she mightmiss your question, and i cant remember all the details of what happened.