Hi
I currently have a Halifax mortgage with my DH. We have recently begun to consider moving again (in fact we have recently viewed our ideal home!) and today I had an appointment with an advisor.
We currently have three seperate credit card debts. We can get a new mortgage but not quite enough for this property. However, I was advised that if I consolidate these three debts into one monthly (loan) payment we would then be able to get a mortgage in excess of what we requrie. Would someone be able to explain why this is please - the debt amount would still be the same. It would be much appreciated :)
So our options seem to be to consolidate the debt and then will be in postion to move - assuming, of course, our house sells (which is something else to worry about).
Or we could wait a couple of years and in that time have a massive push in clearing those credit card debts. But it would mean putting the 'ideal house' dream on hold.
Many thanks in advance.
I currently have a Halifax mortgage with my DH. We have recently begun to consider moving again (in fact we have recently viewed our ideal home!) and today I had an appointment with an advisor.
We currently have three seperate credit card debts. We can get a new mortgage but not quite enough for this property. However, I was advised that if I consolidate these three debts into one monthly (loan) payment we would then be able to get a mortgage in excess of what we requrie. Would someone be able to explain why this is please - the debt amount would still be the same. It would be much appreciated :)
So our options seem to be to consolidate the debt and then will be in postion to move - assuming, of course, our house sells (which is something else to worry about).
Or we could wait a couple of years and in that time have a massive push in clearing those credit card debts. But it would mean putting the 'ideal house' dream on hold.
Many thanks in advance.