Hi
Looking for a bit of advice for any mortgage experts out there.
We have a £20k balance outstanding on our mortgage, which has 8 years left on it. We also have a secured loan with an early repayment figure of £60k, currently payable over the next 23 years.
We have recently had a massive overhaul of all our finances, and the mortgage/loan is the last thing we need to tackle. Our intention is to combine both amounts into one payment a month - we wish to pay this off in 8 years (which is manageable considering what we pay on both now).
We have already approached our current mortgage provider, Santander, about a remortgage. They have said that as the intention is consolidation, they only lend up to a maximum of £35k which is of course less than we need. What should our next step be? Should we approach a broker to look at other lenders? How would we ensure that they realise we are going to be paying off our other two debts, so the remortgage does not seem unaffordable?
Thanks
Looking for a bit of advice for any mortgage experts out there.
We have a £20k balance outstanding on our mortgage, which has 8 years left on it. We also have a secured loan with an early repayment figure of £60k, currently payable over the next 23 years.
We have recently had a massive overhaul of all our finances, and the mortgage/loan is the last thing we need to tackle. Our intention is to combine both amounts into one payment a month - we wish to pay this off in 8 years (which is manageable considering what we pay on both now).
We have already approached our current mortgage provider, Santander, about a remortgage. They have said that as the intention is consolidation, they only lend up to a maximum of £35k which is of course less than we need. What should our next step be? Should we approach a broker to look at other lenders? How would we ensure that they realise we are going to be paying off our other two debts, so the remortgage does not seem unaffordable?
Thanks