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Andrea2528 Posts: 284 Forumite

28 January 2008 at 7:34PM in Mortgages & endowments

I'd like some advice please on behalf of someone else.

This person is currently owing approx. £50,000 and he is in a situation where he has a poor credit rating. However, he owns land to the value exceeding the amount of debts owing.

What he would like to know is can he remortgage a certain percentage of his land to pay off his debts amount?

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