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suemo63
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Hi I have a part repayment and part interest only mortgage. I tried to remortgage last year with Chelsea but we couldn't afford new monthly amount. I had house valued and didn't have enough equity to do it with another lender. Any ideas what I can do with the interest part as don't want to lose my house when mortgage ends in 12 years. Also I have credit card debt so would it be better to use money I have to clear these or put savings on the interest part of mortgage? Any help would be appreciated and apologies if it's on the wrong forum.

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Anything could happen in 12yrs

The bottom line is credit card debt won't remove your house

Not settling a mortgage will

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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When the mortgage ends will you still be able to say remortgage?

Assuming a clear credit file?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

Always clear down your mortgage

not credit cards

Suggest you overpay on your mortgage

monthly to save interest(clear early then tackle int

only)

or convert int only part to repayment

over 12 year period

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convert the int only part to repayment as well

most mortgage providers will allow this

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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