Get N bet R
Registered User
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- 18
Hi all,
I was wondering if anyone could give some advise, basically it's become apparent that myself and partner need to take some action re finances, I'm presently thinking of arranging an appointment with a broker re-mortgaging in order to clear (if approved) all debt with exception of mortgage.
Our details are as follows:
My Salary 65K Bonus approx 3-4K
Partner 12K (part time)
Mortgage 325K EBS (including top ups) 26.5 yrs left
House Value approx 440,000
Current Debts:
Car loan 14,500 K
Credit Cards 20K (maxed)
Combined Loans 38K
Overdraft 700 euro
We are up to date on all loans with exception of credit cards, our mortgage is up to date but recently we have been late in paying (2 weeks). Basically extremely difficult to make ends meet, we have one child and if anything pops up during the month we are really up against it.
I'm worried that recent late missed payments on Mortgage will ruin any chances of re-mortgage, my credit history has been excellent up until the last 6 months or so (part of the problem as I was continually approved for top ups/loans etc)
I've looked at the figures & if we were to get a re-mortgage for approx 390 - 395K over 30 yrs @ 2,200 per month would mean approx 2.5K disposable income after mortgage & travel costs to work have been paid, this would change our lives, basically be able to live a bit & save at least 5-600 euro a month. The present circumstances are getting me & my partner especially really down, affecting my motivation & drive work also. I'm very reluctant to get involved with any of the sub-prime lenders, start, nua etc as I fear that we would never get away from them and under the collar for rest of lives.
I've a good well paying & established job & promising career, I've thought about going to MABS but I guess am embarrassed and proud at the moment, before hand I would like to see anything could be done on this front - mortgage broker or would I be immediately be refused ?
Any thoughts / suggestions welcome.
Thank you.
I was wondering if anyone could give some advise, basically it's become apparent that myself and partner need to take some action re finances, I'm presently thinking of arranging an appointment with a broker re-mortgaging in order to clear (if approved) all debt with exception of mortgage.
Our details are as follows:
My Salary 65K Bonus approx 3-4K
Partner 12K (part time)
Mortgage 325K EBS (including top ups) 26.5 yrs left
House Value approx 440,000
Current Debts:
Car loan 14,500 K
Credit Cards 20K (maxed)
Combined Loans 38K
Overdraft 700 euro
We are up to date on all loans with exception of credit cards, our mortgage is up to date but recently we have been late in paying (2 weeks). Basically extremely difficult to make ends meet, we have one child and if anything pops up during the month we are really up against it.
I'm worried that recent late missed payments on Mortgage will ruin any chances of re-mortgage, my credit history has been excellent up until the last 6 months or so (part of the problem as I was continually approved for top ups/loans etc)
I've looked at the figures & if we were to get a re-mortgage for approx 390 - 395K over 30 yrs @ 2,200 per month would mean approx 2.5K disposable income after mortgage & travel costs to work have been paid, this would change our lives, basically be able to live a bit & save at least 5-600 euro a month. The present circumstances are getting me & my partner especially really down, affecting my motivation & drive work also. I'm very reluctant to get involved with any of the sub-prime lenders, start, nua etc as I fear that we would never get away from them and under the collar for rest of lives.
I've a good well paying & established job & promising career, I've thought about going to MABS but I guess am embarrassed and proud at the moment, before hand I would like to see anything could be done on this front - mortgage broker or would I be immediately be refused ?
Any thoughts / suggestions welcome.
Thank you.