Consolidate 1st and 2nd Mortgage

1. and 2. mortgage consolidation

It is generally not suitable for debt consolidation. Potential combination of 1st and 2nd fee mortgage in the years to come Hello, I'm just asking myself if anyone can give a little piece of guidance. I' ve been looking into re-mortgage to trap my uncovered liabilities. With my recent mortgage I have around £100k pending and let go 25%. £30k of unfunded debt I was considering to add to this against the value of around £190k worth of real estate.

When I first contacted a real estate agent I was told that this would be very unlikely as mortgage lenders are reluctant to consolidate this much CC/unsecured credit liability in terms of earnings level (compared to my £40k salary).

Apart from the fact that many would ever counsel on here against shifting the mortgage into a mortgage (advice I understand, but on balance am willing to look at as an option here ), my thoughts have turned to an option to consolidate in the near future with a 2nd load mortgage, which would be a great help with the month's budget.

Then my great idea would be to go 12-24 months with the two loans and accept no new indebtedness in that case, then looking to remortgage in order to put the two into one and actually fetch my months repayments which are a reasonable bit further down. Wouldn't looking to recortgage and merge the two usually have a better chance odyssey than trying to consolidate insecure indebtedness into a recortgage at the moment?

Particularly if they are secured by one or two years of full refunds and no new debts to consumers.

Hypothekenmakler in London

A few first load creditors are reluctant for systemic purposes because they are not able to detect another lender's participation in point of sales and back-end management schemes, this is particularly a problem for creditors who cause mortgage and then resell it. Regardless of the cause of the lack of first mortgage creditors, there are still available choices and affordable pricing is the answer to this.

Surely the investor faculty also countenance end at the repute of the bonded debt businessperson, since indisputable investor are related to subprime/adverse debt debt and this may get them afraid. Also, the secured borrower may have a drawing down facilities that can devour the capital of the real estate when it is freed, and the first creditors who dare to know that the customer has to lose their own means and not just fund it as they believe that they will work tougher to make their mortgage repayments.

Nischenberatung is not bound to banks, home loan and savings associations, real property agents or insurers and provides independent mortgage and insurance counsel.

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