Suicidal - please help me!

Broken_hearted

Hi sporter my mortgage fixed rate is ending for the second time during my dmp, last time the fixed rate ended we were offered a better rate than we were on. So I'm not to worried about this fixed rate ending in May (only 10 weeks left). MBNA are just trying to scare you as even bankrupts can get mortgages.

sporter_2

Will try what you say guys.........thanks again:beer:

But, is it right that a loan secured on my property is different from a re-mortgage? Can i get a secured loan for a shorter length and at a fixed rate?

What do you think?

chappers

chimp_choker wrote: »

and £800 a year on a season ticket for Hartlepool United....

Shouldn't they have been paying you:p

chimp_choker

Oh to be a sage Chappers !!

That £800 was only for the season ticket... we actually spent over £10k in one year following pools 3 years ago... we are recovering poolies now like alcoholics, we only go to home games this season but when we slip off the wagon we go watch Sunderland....
( just shoot me now)

Bismarck

Hi Sporter...hang in there.....if you consolidate you'll get stuffed for loads of interest up front and they're a b****r to get out of. Have a look on the loans board if you haven't already...

A re-mortgage looks at your main mortgage and re-addresses it...a secured loan can be seen as a second charge on your property...if you don't pay, they take their share of what's left of your equity after the first charge (mortgage) has been satisfied...

Because they're inflexible, be VERY careful about a loan, especially a secure one..if you can hang on til next year you may see that what you are considering now would have stuffed you up....you could be getting the simplicity of one payment but making the situation worse in the long run.

get some professional advice though (not from a bank!)....have you tried CAB? sorry if you have and I've missed it...

sporter_2

did speak to Payplan who has referred me to some brokers......Havent spoken to them as yet.

Just worried about mortgage next year, with credit rating being affected.

looking for an evening and weekend job at the moment.

This is so depressing.........

kyh

JonX wrote: »

Debt is all a game,

I possibly may have a way out of this for you.

If you wish to email me on [EMAIL="jkh_02@yahoo.co.uk"]jkh_02@yahoo.co.uk[/EMAIL] i can share more details with you

Regards

Jon

:spam: or looks like to me - reported

ixwood

More worrying than just spam, I guess he's a BMV (Below Market Value) vulture.

I.e he finds a "motivated" (i.e. in trouble) seller/victim and offers (way) below market value for the house.

"Motivated" seller leads sell for £100's. They're scum IMO.

Bismarck

Hi Sporter....are you up to you limits on all the cards? Will any of them accept a small balance transfer from another to count as a minimum payment to buy you some time? sorry...should re-phrase that! I know some have a minimum of £100 or so but it could keep you credit rating looking better than might if you did other things...

leoetal19

Originally Posted by leoetal19
def not what some people would advise but for me it was the best soliution
i was paying £470 mortgage
and nearly £800 a month on loans and credit cards and they wernt going down as i needed them to live on each month!!!!!! horror
i had 100k equity in my home so upped my mortgage to pay off loans and cards-payment is now £680 a month -saving £590 a month
good luck and choose YOUR path wisely xxxxxxxxx
If you look on this site I asked the same question about consolidation of my debts to the house as it would save me something like £400 a month. The proposed new mortgage was a fixed rate interest only for 2 years so the £400+ savings were going to be saved / invested to help grow so we could pay off a lumper after the two years.......................... 1 week before we were due to get an offer the tax credits stopped, £470 a month and we were also overpaid by £800.... The savings / investment money has disappeared and we would have had the debts on the house. with hindsight we will probably still be able to pay the new mortgage but now there is a worry each month that the mortgage is going to be paid let alone the added bit as it would have been.
Sporter, just be careful that remortgaging sounds good, I was in love truly and madly with the idea of one payment each month but then the other priority bills such as water, council tax, gas, elec would take the place of the unsecured debts......

Be strong and empowered but way up all things first and then re check your decision.
Chimpy

can i just point out i wasnt advising sporter to do what i did just offering another view-i did and would always suggest people do it their own way-there is no one size fits all xx its a minfield folks x