Remortgaging advise required?

Question

Hi There,

I'm moving back to UK soon from abroad. I need to remortgage my house i have mortgage of approx 79k and would like to consolidate debt onto this. House is worth approx 100k. Ho wmuch will i be able to remortgage for considering the credit crunch?

Thanks

Rob

Answer 1

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Answer 2

go to a mrtgage broker for the best advice or see the gmtv website, they have a man on there who is brilliant on all finance issues, his name is Martin ????? can't rememebr other name. Was on tv just last night ( 21/07/08) on exactly the subject you need help.

Answer 3

You need to get the house re-valued at 'todays' prices = it is unlikely to be worth only £100k (unless it's a one room cottage in the Sottish highlands or a caravan on a cliff top) ..

Most lenders are looking for 10 to 20% 'deposit' plus an income ratio of x4 or so ... so to increase the Mortgage from 79k to 100k, you would need a valuation of £120k or so, plus a job with a salary of at least £25k ...

Answer 4

Dear friend i can help you. please visit my website.

http://real-estate-informations.blogspot...

Thank you

Answer 5

Potentially you may have an issue re-mortgaging if you have been outside the UK for any length of time due to not being on the electoral roll (did you remain on the electoral roll?).  It may also be in-effective due to any arrangement fees as these are quite high nowadays and the amount you plan to borrow can't be that high, max possible I would think 16K.  So the overall cost of a secured loan maybe less.

Answer 6

I reckon you could get 15k max...but realistically, 10k.

You should have your house surveyed again.

Nationwide are doing very good deals for remortgaging athe moment

http://www.financecomparator.co.uk/mortg...

Answer 7

Check this site if you need remortgage advice and utilize the advice from http://www.ukremortgagerate.co.uk/remort...