Are banks willing to increase mortgages?

S

sortit

Guest
From all I've heard in the past while I'm wondering if it's even worth my while applying to my back to increase my mortgage?

Even with values down I'm in a pretty lucky position of still having quite a bit of equity in my home. However, I've got credit card bills, personal loans etc which I'd like to put on the mortgage.

Is there any point even applying... I don't want to go to all the trouble & find I'm refused? That would be very embarrassing! On the other hand with pay cuts etc I'm struggling to pay the mortgage & all the other loans - if I could put it all on the mortgage, it may cost me more in the long run but it'd make things more manageable...

Any advice anyone?
 
Give your mortgage provider a call and ask if they are open in principle to a top up loan.

If they are open to it, It makes sense then that it would be worth completing the forms.

However the credit criteria will still apply - if you have had a salary cut, would you qualify for the full combined amount if you were going in fresh asking for the loan?

Paddy
 
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