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Add credit card debt to mortgage?
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Thank you.
We have paid for the application fee, the broker has confirmed affordability, it's with the underwriters now. We have applied for 90% but can always reduce this to 85/80%
The new house is 185k. It's workingout at £740 per month on 90% ltv, 3.77% interest rate. It's 3.6% on 85%0 -
You'll be paying stamp duty (2% on £60k) plus legal fees of about £2K - so an additional £5k to be financed over a period. Financially it doesn't stack up but it never does when moving. It's an emotional decision rather than a logical one.
You'll just have to take it on the chin and save like mad over the next few years. We've all done it.
All I would suggest is that with the LTV element being so tight that you have (worthwhile) payment protection / ill-health cover.Unlike some here, I am not omniscient. If I am wrong correct me. I won't take offence.
The law is like an ocean - have a swim but don't drown.0
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