Hi,
Was wondering if someone here could help me. Basically we've got a house that's roughly worth £170000 with £101,000 remaining. Over the years me and my wife have fallen into debt. Around £22000 on credit cards and I've got aprox £6000 remaining on a car loan. Really stupid mistake really.
Anyway we had decided to wipe out this debt with the equity in our home. A family friend who is a mortgage advisor has told us that as we are a low income family with 2 kids that it would be very difficult to remortgage as the banks will only lend upto a certain amount times our joint incomes.
Our income.
I'm a self employed taxi driver and my last gross income was £8255 and my wife works part time with a salary of £13023. I'm not sure if banks would take our £6708 tax credits in to account.
All we want us to get out of this debt and its seeming impossible at the moment.
Any help would be greatly appreciated.
Thank you
SSP
Was wondering if someone here could help me. Basically we've got a house that's roughly worth £170000 with £101,000 remaining. Over the years me and my wife have fallen into debt. Around £22000 on credit cards and I've got aprox £6000 remaining on a car loan. Really stupid mistake really.
Anyway we had decided to wipe out this debt with the equity in our home. A family friend who is a mortgage advisor has told us that as we are a low income family with 2 kids that it would be very difficult to remortgage as the banks will only lend upto a certain amount times our joint incomes.
Our income.
I'm a self employed taxi driver and my last gross income was £8255 and my wife works part time with a salary of £13023. I'm not sure if banks would take our £6708 tax credits in to account.
All we want us to get out of this debt and its seeming impossible at the moment.
Any help would be greatly appreciated.
Thank you
SSP