Can I put my homeowner loan and credit cards into one mortgage payment?

Posted on 3 January 2008

We made the mistake of taking a homeowner loan out against our property and it's proving quite expensive. I want to put this, plus the credit cards into one mortgage payment. Our house is worth approx £115,000 and we would need a total mortgage of £101,000. Abby won't do it due to it being over 85%. What are my options?

Hi Emma,

There are plenty of other lenders that will let you remortgage all the way up to 90%.  If you are able to remortgage away now, I would simply go down the normal route of speaking to a broker.  Allow 20 minutes for the conversation about what you need and your income etc, then they will tell you the right one for you.  If you would like to use Charcol the number is 0800 358 5560, they charge a fee of £199, on successful completion of the new mortgage only.

Please also read my Ask Bea letters on debt consolidation just so you understand that putting the debt on your mortgage means that you potentially have it for 25 years.

(Terms and conditions for Charcol are on the website charcol.co.uk, and they talk you through them at the start of the call.)

Category: Remortgaging, Secured loans

 

Answers provided in response to Ask Bea are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of Charcol Limited. All comments are made in good faith, and neither Charcol Limited nor Bea will accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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