Hi i am new to this so hope this is in the right section.
I have a mortgage of £100,000 my house is worth £160,000 - £170,000. I have slipped behind on my repayments as im on a zero hours contract at work. I ve notified the mortgage company that i forsaw a problem in early december. I managed to pay that mortgage with help from my mum.
Havent paid january 2013 so two weeks behind.
Itdosent look like im going to be able to pay febuarys as work dosent pick up until middle febuary normally.
Im thinking of buying a smaller house say 120,000 so that i have less of a mortgage, but i am also going through debt management with community law due to my credit cards. owe approx £15,000
what are the chances of the morgage company allowing me a new mortgage on a cheaper house? any options?
please help
I have a mortgage of £100,000 my house is worth £160,000 - £170,000. I have slipped behind on my repayments as im on a zero hours contract at work. I ve notified the mortgage company that i forsaw a problem in early december. I managed to pay that mortgage with help from my mum.
Havent paid january 2013 so two weeks behind.
Itdosent look like im going to be able to pay febuarys as work dosent pick up until middle febuary normally.
Im thinking of buying a smaller house say 120,000 so that i have less of a mortgage, but i am also going through debt management with community law due to my credit cards. owe approx £15,000
what are the chances of the morgage company allowing me a new mortgage on a cheaper house? any options?
please help